A former manager of a major U.S. software company was recently indicted on charges of wire fraud, suspicion and money laundering, following an investigation which revealed a multi-million dollar international scam.
During the course of his five-year employment with the software company, the defendant appears to have taken kickbacks from foreign suppliers in exchange for insider information and future plans of the company. The co-conspirators included several suppliers from Singapore and China, as well as other partners in Asia. A the defendant is responsible for approximately $2.25 million in lost revenue for the company which he represented. This amount reflects both personal gains that the defendant gleaned from the shady Asian foreign suppliers, as well as damages to the software company he once served as manager. Potentially he can be charged with Grand Larceny wither in State or Federal Court
A New York Criminal Lawyer observes that the defendant, a native of Sunnyvale, CA, was indicted on August 11, 2010. He subsequently entered into a plea deal, the details of which are summed up in an official statement by a representative of the U.S. Department of Justice: “…(the defendant) admitted to engaging in a scheme to defraud (the company) of its money or property and its right to his honest services while he was employed with the company from 2005 through 2010.” Federal agents scoured the defendant’s home following his detailed conviction, where they found approximately $150,000 cash hidden in shoe boxes. This cash was most like part of the kickbacks he received from the Asian-based suppliers, which constituted a certain percentage of the commerce between the plaintiff company and its foreign suppliers.