The former chief financial officer of the Marine Exchange of the San Francisco Bay Region has been sentenced in federal court in San Francisco to four years and nine months in prison for convictions related to his embezzlement of more than $928,000.
He pleaded guilty in November to two counts of wire fraud, one count of
mail fraud and one count of tax evasion, and admitted he embezzled more than
$928,000 from his employer.
The Marine Exchange is a nonprofit group that collects and analyzes
maritime shipping traffic data.
He worked for the association from December 2007 through April 28, 2014,
first as a contractor and then as chief financial officer.
Prosecutors said in a sentencing brief that his embezzlement included
$551,511 in checks he cashed from the exchange’s bank account; $257,638 worth
of personal goods bought with the organization’s credit cards; and $118,986 in
unwarranted payments to a friend whom he hired.
The judge ordered him to pay a total of $1,105,481 in restitution,
including $928,000 in repayment to the Marine Exchange and more than $175,000
in taxes due.
He has been in custody since his arrest on May 30, 2014, according to
U.S. Attorney Melinda Haag. (source)
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