A 60 year old former Lakewood, Colorado resident was sentenced to serve 92 months in federal prison followed by 3 years of supervised release for the conspiracy to commit money laundering. He was also ordered to pay restitution of $4,197,775.83.
According to the court documents, the former employee swindled his employer, a nonprofit health-care program in Colorado, of over 16 million dollars. The Lakewood resident came up with a plot where he inflated quotes for computer services which were submitted through another company owned by a co-conspirator. The former employee approved the quotes, whereby millions in increased remittances were authorized before the plot was discovered. The profits went back to the Lakewood resident and his accomplices via a 3rd party, which returned the profits to the 60 year old former employee in the form of payments on bogus contracts for cashier checks, goods and services, and gold coins.
The Special Agent in Charge of the IRS – Criminal Investigation said that honest and law-abiding taxpayers were fed up with those who utilized lies and fraud to fill their own pockets with other people’s money. Anyone who engages in this type of financial fraud should know that their criminal conduct will not be tolerated and they will be brought to justice.
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The Association of Certified Fraud Examiners (ACFE) provides a Fraud Prevention Check-Up to see if your business is vulnerable to fraud. This PDF is available free to both ACFE members and non-members. The check-up is a simple yet powerful test of your company’s fraud health.
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Sincerely,
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Berkley Crime
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| National Practice Leader Michael Beranek (501) 707-6548 [email protected] | Adam Pardi (212) 497-3704 [email protected] |
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