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Michigan man pleads guilty to federal charges of embezzlement

On Behalf of | Mar 19, 2023 | White-Collar Crimes

White-collar criminal offenses are committed with the intent of financial gain, something that is accomplished through various means, including deception or theft. While these types of cases typically lack an element of violence, they are considered serious federal offenses, and an accused individual could face an extensive prison sentence if convicted. One Michigan man recently pleaded guilty to the embezzlement of funds in the amount of $870,000. These funds came from United Bank.

A long-term embezzlement operation

The man was accused of embezzling funds from United Bank from 2014 to 2021. As a former bank employee, he had access to information that would not be accessible to others. He used this access as a way to obtain bank funds in a few different ways. He took money directly from accounts, took out fraudulent loans, and he funneled closing costs coming into the bank into his own accounts.

He concealed this additional income on his personal tax returns. It is not immediately clear how his activities came to be known by officials and investigators after going undetected for years. He pleaded guilty to embezzlement by a bank employee and tax evasion. For both of those crimes, he could face decades behind bars.

Seeking the best possible outcome

There are times when it is prudent for a Michigan defendant to plead guilty to the charges he or she is facing. This could provide the individual with the opportunity to seek lesser penalties or the minimum sentence for a specific charge. When facing federal criminal charges, it is best to seek the support and guidance of an experienced criminal defense attorney.