An Illinois man recently pleaded guilty to stealing over $400,000 worth of cash and oil and gas products from his former employer. The 59-year-old pleaded guilty to one count of money laundering and two counts of mail fraud after he engaged in an investment scheme to defraud his employer. The defendant was a trusted employer for over 30 years at a large oil and gas company who set in motion two different schemes to defraud his employer.
In the first scheme, he wrote and submitted fraudulent invoices to his employer for services that the company never rendered for $129,038. His employer paid the invoices, and the employee personally pocketed the money. In another scheme, he stole oil from his employer by hiring trucks to move the stolen oil to a reclaimer who paid him over $266,000 for the oil. After he stole the oil, he charged his employer for the transportation costs to move the stolen oil.
How Do Employers Discover Embezzlement?
The case mentioned above is a perfect example of an employee embezzling money from an employer. Most embezzlement schemes happen over a long period of time. Employers do not always catch employees embezzling from them, but when they do catch them, it is usually due to an accounting discrepancy. Depending on the facts of the case, defendants who embezzle from their employers can face various charges. Prosecutors will often bring mail fraud and money laundering charges against employees who embezzled from their employers.
Mail Fraud Charges in Illinois
Mail fraud is a crime in Illinois and federally. If you are charged with mail fraud, you could face federal or state charges. In Illinois, mail fraud occurs when someone attempts to defraud a person or obtain money from that person under false pretenses. Mail fraud typically occurs when someone entices another person to pay money for a service they do not intend to render. In the case mentioned above, when the defendant created fake invoices and billed clients for a service they never received, he engaged in mail fraud. In Illinois, mail fraud is a class 3 felony that carries a fine of up to $1 million and imprisonment.
Money Laundering Charges in Illinois
Money laundering is another white-collar crime that involves someone disguising ownership or control of money or property derived from illegal activity. The penalties for money laundering depend on how much money or property the defendant stole. For example, if the defendant stole less than $10,000, he or she will face a prison sentence between two to five years and fines up to $25,000. The penalties increase as the amount stolen increases.
Contact an Illinois Criminal Defense Lawyer Today
If you are facing charges for a white-collar crime in Illinois, you need an experienced attorney. Contact the award-winning criminal defense lawyers at Glasgow & Olsson today to schedule your initial consultation.