Equity firm employee pleads guilty to payroll fraud
The former controller of a Greenwich, Connecticut-based private equity firm recently pleaded guilty to one count of wire fraud after abusing his position as employee payroll services supervisor, embezzling more than $85,000, according to Greenwich Time.
Charles Bradley Simpson was found to have accessed the company's online payroll processing service provider's computer network approximately 40 times between January 2008 and April 2010 in order to reimburse himself for expenses that had never been incurred.
Simpson is due to be sentenced in January of next year, the news source reports. He faces up to 20 years of jail time as well as a maximum fine of $250,000.
According to a spokesman from the U.S. Attorney's Office, a plea agreement suggesting a 15 to 21-month range of imprisonment has been filed with the court.
Last month, Iowa State Auditor David Vaudt uncovered a similar embezzlement scheme being conducted by the former clerk of Stockton, Iowa. Larry McCoy was found to have misappropriated more than $65,000 in city funds.
Charles Bradley Simpson was found to have accessed the company's online payroll processing service provider's computer network approximately 40 times between January 2008 and April 2010 in order to reimburse himself for expenses that had never been incurred.
Simpson is due to be sentenced in January of next year, the news source reports. He faces up to 20 years of jail time as well as a maximum fine of $250,000.
According to a spokesman from the U.S. Attorney's Office, a plea agreement suggesting a 15 to 21-month range of imprisonment has been filed with the court.
Last month, Iowa State Auditor David Vaudt uncovered a similar embezzlement scheme being conducted by the former clerk of Stockton, Iowa. Larry McCoy was found to have misappropriated more than $65,000 in city funds.
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