David Saks: November 2011

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

FORMER BOOKKEEPER FOR LANDSCAPING COMPANY PLEADS GUILTY IN $1.3 MILLION EMBEZZLEMENT

Former Bookkeeper Pleads Guilty in $1.3 Million Embezzlement
Victim was Small Landscaping Company

U.S. Attorney’s Office November 02, 2011
  • District of Columbia (202) 514-7566
 
— filed under:
 

WASHINGTON—Christopher F. Cunningham, 44, a former bookkeeper and office manager, pled guilty today to a federal charge stemming from the embezzlement of $1.3 million from a small landscaping company, announced U.S. Attorney Ronald C. Machen Jr. and James W. McJunkin, Assistant Director in Charge of the FBI’s Washington Field Office.

Cunningham, most recently of Spain, pled guilty to the lead count in a recently unsealed indictment, interstate transportation of money taken by fraud. He appeared before the Honorable Royce C. Lamberth, Chief Judge of the U.S. District Court for the District of Columbia.

The defendant is to be sentenced January 13, 2012. He faces a probable sentence under federal sentencing guidelines of 37 to 46 months of incarceration, restitution in the amount of approximately $961,000, a fine, and other conditions. Federal agents applied for warrants to seize stolen funds, or their equivalent, from bank accounts. So far, they have seized about $338,000, which has been returned to the victim.

According to the indictment and a statement of offense, which was signed by the defendant, Cunningham worked for a small landscaping company from 2004 until December 2009 as the de facto “office manager.” To achieve his embezzlement, Cunningham would input information into the company’s computerized bookkeeping systems as if to pay legitimate vendors. Instead of generating checks to pay these legitimate vendors, however, Cunningham would generate checks in his own name or that of one of his own creditors. These checks would contain the forged signature of the owner of the landscaping company.

Cunningham also inputted payroll information into the victim’s computerized bookkeeping systems in the names of other employees, causing the victim and those named employees to pay taxes on the wages purportedly given to them. Instead of generating these checks to the employees, however, Cunningham generated checks in his own name and took the money for himself.

In addition, Cunningham allegedly redirected checks, which should have been deposited into the victim’s accounts, as the checks were made payable to the landscaper, into his own bank accounts. Finally, Cunningham is accused of engaging in online banking that caused the victim’s banks to send checks to himself at his home address and to pay his other debts.

In order to hide his scheme, Cunningham altered the company’s bank statements to disguise the fact that he wrote checks to himself and wrote checks to others to pay for his own debts.

Cunningham is being held without bond pending sentencing.

In announcing the plea, U.S. Attorney Machen and Assistant Director in Charge McJunkin commended the work of special agents with the FBI’s Washington Field Office. They also cited the efforts of the staff of the U.S. Attorney’s Office, including Paralegal Specialists Diane Hayes and Sarah Reis, and Assistant U.S. Attorneys in the Asset Forfeiture and Money Laundering Section, as well as Assistant U.S. Attorney Virginia Cheatham, who is prosecuting the case.

Courtesy FBI

 



David Saks



Time&Temp Memphis

Legal Disclaimer
Please be advised that:

 The information and notices contained in this blog are intended to summarize recent developments and news. The posts are presented as general research and information. These posts are not intended, nor should be regarded, as legal advice. Some blog posts concern allegations made in civil lawsuits and in criminal indictments in United States Courts. All persons are presumed innocent until convicted of a crime and proven guilty. Readers who have particular questions or who believe that they need legal counsel should seek the advice of a qualified attorney. It is neither the editor's or author's intention to create a confidential relationship or any broker-client relationship via communication from this site at any time. Please consult with your state real estate board if questions & answers in the education section conflict with the laws of your region or if you need clarification regarding their applicability or how they may govern the services that you provide.

By entering this web site, you understand the following:
When you select a link to an outside Web site, you are subject to the privacy, copyright, security, and information quality policies of that Web site. David Saks:
1.DOES NOT control or guarantee the accuracy, legality, relevance, timeliness, or completeness of information contained on a linked Web site;
2.DOES NOT endorse linked Web sites, the views they express, or the products/services they offer unless linked web sites, the views they express, or the products/services they offer endorse or support David Saks in accordance with the standards of the Tennessee Real Estate Commission and the Federal Government's laws regarding commerce and the application, solicitation and transmission of internet-related concerns, commerce or social networking;
3.CANNOT authorize the use of copyrighted materials contained in linked Web sites;
4.IS NOT responsible for transmissions users receive from linked Web sites;
5. That DavidSaks.Com is biographical & real estate related. Some links within will leave this site.
6. http://activerain.com/profile/davidsaks is internet-compliant & abides by the rules & regulations of the Tennessee Real Estate Commission, Eve Maxwell, Executive Director.
7. Unless indicated otherwise, ActiveRain does offer listings, or IDX and is provided for licensed salespersons, brokers, buyers & sellers of real property as a community & professional service.
8. David Saks is a retired / licensed real estate broker in the State of Tennessee, license #290452, and an independent contractor.
9. Information is believed to be accurate, but not guaranteed, at any realty link or document connected to the World Wide Web & viewable by anyone connected to the internet who has a web browser.
10. Brokers, buyers, sellers, agents & anyone should independently verify any information prior to submitting any offer to purchase goods & services from any link.
11. Please Visit The American Real Estate Alliance or Memphis.8k.Com for additional information regarding property issues for real estate professionals and consumers.

 

Photos © & Licensed by Nova Development

All Content Protected © 
Before you even think about
committing a real estate crime
click this red button.
Real Estate Crimes

© All Rights Reserved.

 

 

 

 

"Information generated by the Department of Justice is in the public domain and may be reproduced, published or otherwise used without the Department’s permission. Citation to the Department of Justice as the source of the information is appreciated, as appropriate."

Department of Justice Legal Policies


 

  Real Estate Crimes

 

Click "HERE" For Today's Question

 

 

TheListen Now!

David Saks Show

Saturday Nite

9pm-12am Central

University of Memphis

WUMR

 

Support
America's Hobby

Click Elvis

Mr.Saks' participation in ActiveRain ended April 13, 2015.

His blog archives will remain online.

May God bless you.

Comment balloon 2 commentsDavid Saks • November 02 2011 09:55PM
FORMER BOOKKEEPER FOR LANDSCAPING COMPANY PLEADS GUILTY IN $1. 3…
share
Former Bookkeeper Pleads Guilty in $1. 3 Million Embezzlement Victim was Small Landscaping Company U. S. Attorney’s Office November 02, 2011 District of Columbia (202) 514-7566 &… more
ATTORNEY CONVICTED IN MANHATTAN FEDERAL COURT ON MULTI-MILLION DOLLAR…
share
Attorney Convicted in Manhattan Federal Court on Multi-Million-Dollar Mortgage Fraud Conspiracy, Bank Fraud, and Money Laundering Charges U. S. Attorney’s Office November 02, 2011 … more
SIX CHARGED FOR MORTGAGE FRAUD SCAM INVOLVING SEVEN HOMES
share
6 Charged for Mortgage Fraud Scam Involving 7 Homes Temika Reed 31, Bay Point, California; Buena Marshall 65, Sacramento, California; Jake Weathers 35, Sacramento; Deborah Loudermilk 53, Suisun City, California; Reginald Dodson Sr… more
MAN CONVICTED OF ORCHESTRATING DOWNPAYMENT FRAUD SCHEME
share
Man Convicted of Orchestrating Downpayment Fraud Scam Prince Charles Eweka 45, Canton, Massachusetts, was convicted in federal court for orchestrating a large-scale property mortgage scam and separately stealing down payments from potential… more
FORMER CLOSING ATTORNEY CHARGED WITH MORTGAGE FRAUD
share
Former Attorney Charged with Mortgage Fraud Charles Sammon 35, West Pittston, Pennsylvania, formerly a practicing attorney in Boston, Massachusetts, was charged in federal court with 13 counts of wire fraud, one count of mail fraud and one… more
MAN SENTENCED FOR STEALING FROM FORECLOSED HOME
share
Man Sentenced for Stealing from Foreclosed Home Sean DeCelle 44, Wyantskill, New York, was sentenced by United States Magistrate Judge David R. Homer to two years probation, and ordered to perform 100 hours community service and pay… more
THREE ARRESTED FOR MORTGAGE ELIMINATION FRAUD / SCHEME
share
3 Arrested for Mortgage Elimination Scheme Alex Soria, Sonia Rodis and Hans Johns have been arrested and charged in connection with the operation of a mortgage scam. The defendants have all been charged with two counts of… more
TITLE COMPANY OWNER ADMITS DIVERTING ESCROW / MORTGAGE PAYOFF FUNDS
share
Title Company Owner Admits Diverting Escrow Funds Gary Pierce 44, Edgewater, Maryland, pleaded guilty to conspiracy to commit wire fraud in connection with a five year scheme to divert or hold mortgage payoff funds from clients’ closings on… more
DEVELOPER AND STRAW BUYER RECRUITER ARRESTED FOR MORTGAGE FRAUD
share
Developer and Recruiter Arrested for Mortgage Fraud Sirewl R. Cox 36, formerly of Boston, Massachusetts, and Lord R. Allah 40, Burlington, Massachusetts, a developer and a recruiter, were arrested in connection with a multi-year, multi… more
CONSTRUCTION COMPANY OWNER SENT TO PRISON FOR MORTGAGE FRAUD
share
Construction Company Owner Sentenced for Mortgage Fraud Talal Ashek 42, Holland, Arizona, was sentenced to two years in federal prison by U. S. District Judge Neil V. Wake and ordered to pay over $2. 9 million in restitution for his role in a… more