Guilty plea entered in $3.2 million embezzlement, money laundering scheme (over four years)

Transferring funds, unlawfully, from his company’s bank account to his own bank account – and then transferring the money from that account to others, to the tune of $3.2 million – could earn a Maryland man up to five years in federal prison, based on the guilty plea the man entered Friday.

The U.S. Attorney for the Eastern District of Virginia said Reginald Zayas, 48, of Upper Marlboro, Md., pleaded guilty to embezzling the money from his employer, a Virginia business. Zayas, according to the U.S. Attorney’s office, embezzled the funds over an almost four-year period. By transferring the funds he stole to others, Zayas essentially laundered the money and then used the funds to pay for his personal expenses.

The inspector general of the Federal Deposit Insurance Corporation (FDIC-OIG) participated in bringing the case against Zayas, joining with the FBI and the U.S. Attorney’s office.

Sentencing is set for early next year.

Man Pleads Guilty to Embezzling Over $3 Million From Employee

Be the first to comment

Leave a Reply

Your email address will not be published.