ALBANY – District Attorney P. David Soares Monday announced that Akiva Daniel Abraham, 43, of Rexford, NY, was indicted by the Grand Jury on one count of Arson in the Third Degree, a Class “C” Felony, one  count of Insurance Fraud in the Second Degree, a Class “C” Felony, and one count of Reckless Endangerment in the First Degree, a Class “D” Felony.

The indictment comes after a collaboration among the Colonie Police Department, the Colonie Fire Department, the New York State Police, the New York State Office of Fire Prevention and Control, the New York State Insurance Frauds Bureau and the Office of the Albany County District Attorney.

The indictment alleges that on April 30 at around 3 a.m., Abraham intentionally set fire to Saratoga Winners using tiki torch fuel as an accelerant to completely damage the building. He then filed a “Property Loss Notice” and participated with an insurance adjuster in order to obtain insurance proceeds in excess of $350,000 when he knew the property had been destroyed by arson.

Abraham faces up to 15 years in prison if convicted of the charges.