Riverhead - A jury has convicted former Suffolk County Legislator George Guldi of the top count of grand larceny in the second degree and insurance fraud for the theft of $853,000 paid by his insurance carrier to be held in escrow to reconstruct his Westhampton Beach home destroyed by fire in 2008.

Judge James F. X. Doyle set cash bail at $500,000 or one million dollars bond and the defendant was remanded to the county jail.

The jury acquitted the defendant of second degree criminal possession of a forged instrument in the second degree and forgery in the second degree.

Grand larceny in the second degree, class "C" felony, carries a maximum sentence of five to 15 years in prison. Insurance fraud in the third degree is a class "D" felony punishable by a maximum two and one-third to seven years imprisonment.

Deliberations began yesterday after a four-week trial.

Countrywide Home Loans Inc., the lender holding the 1.4 million dollar mortgage on Mr. Guldi's home, never received or endorsed the check issued by the insurance company to pay for reconstruction of the house at 9 Griffing Avenue.

The house was destroyed by fire on November 30, 2008.