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Man admits to financial crimes in Pennsylvania

| Sep 1, 2016 | Fraud |

Recent incidents took place that included an alleged online romance scheme. A man who claims to have been a victim in the scheme has also admitted to financial crimes that took place in Pennsylvania as the events unfolded. Data from the Federal Bureau of Investigation suggests more than 12,000 victims of romance fraud have lost more than $200 million over the past year.

The man in this particular situation admitted to stealing over $1 million from his employer. He said he sent most of the money overseas to a woman with whom he had become involved in an online relationship. The man had been working for a fragrance company and its subsidiary at the time.

The former employee is also said to have to used some of the money to pay his own mortgage and satisfy credit card debts. He was confronted by a chief operating officer after a financial review of the company’s records took place. His attorney told the judge her client believed the money was going to be wisely invested by the woman with whom he was in contact online. He has already repaid at least $50,000.

A U.S. attorney stated he believes the man’s financial crimes were motivated by his misguided beliefs as a victim of romance fraud online. The judge agreed to allow the man to remain free on bond for the time being. Federal guidelines for such matters suggest prison sentences anywhere between 33 and 41 months. Anyone charged with similar crimes in Pennsylvania may discuss defense options with an experienced criminal attorney before proceeding to court.

Source: insurancejournal.com, “Man Pleads Guilty to Stealing $1.4M from Pennsylvania Employer“, Joe Mandak, Aug. 22, 2016