Former Controller of Evansville Dealership Sentenced to 30 Months for Bank Fraud and Money Laundering

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Former Controller of a local Ford dealership in Evansville, Indiana was sentenced last week to 30 months in federal prison.

According to the United States Attorney’s office, the former employee served as the controller at the local Ford dealership for about eight years where he was responsible for the payroll, taxes, and accounting for the dealership. Prior to becoming the controller for the company, he also served as an assistant office worker for twelve years.

bank fraud

In September 2016, the parent company found discrepancies in the books and records for the Evansville dealership. After further investigation by authorities they learned of several embezzlement schemes conducted by the former controller, including unauthorized bank accounts from which he wrote dozens of checks to himself and personal associates. It was reported that the money was used to pay his personal expenses including child support.

Authorities also say he paid his personal credit card with company funds as well as forging signatures of corporate officers when applying for an unauthorized loan of $250,000.

To read the full article click here.

Prevent This From Happening To YOU!

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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