FORMER WATERS EMPLOYEE PLEADS GUILTY TO DEFRAUDING HIS EMPLOYER
BOSTON, Mass...A Mendon man was convicted yesterday in federal court of conspiracy, fraud and money laundering in connection with the sale of stolen equipment from Waters Corporation.
GLEN DIAS, 51, pleaded guilty before U.S. District Judge F. Dennis Saylor, IV to a 40 count indictment charging conspiracy, mail fraud, wire fraud and money laundering.
At the plea hearing, the prosecutor told the Court that had the case proceeded to trial the Government’s evidence would have proven that DIAS worked for Waters Corporation (“Waters”) in Milford from 1981 until 2007. Waters is an international company that manufacturers and services laboratory analytical equipment. From in or about 1998 through 2007, DIAS knowingly and intentionally defrauded Waters by taking new, used and scrap equipment from the Waters plant and selling it to buyers across the United States, including buyers in Illinois and Texas, for his own personal gain. DIAS engaged in this scheme with the help of others including Kenneth Cucksee, another Waters employee, and Richard Panorese, a friend of DIAS. Both Cucksee and Panorese have pleaded guilty to related offenses in connection with their role in the scheme. DIAS used the proceeds of his unlawful activities to purchase a boat, a trailer and a home on Cape Cod.
Judge Saylor scheduled sentencing for October 18, 2011. DIAS faces up to 20 years in prison on the fraud charges; 10 years in prison on the money laundering charges; and five years in prison on the conspiracy charge. DIAS also faces three years of supervised release and a fine of up to $250,000 or twice the amount of gain he realized from his crimes on each count. DIAS faces forfeiture of the items he purchased with the proceeds of his fraud.
United States Attorney Carmen M. Ortiz; Richard DesLauriers, Special Agent in Charge of the Federal Bureau of Investigation - Boston Field Division; and William P. Offord, Special Agent in Charge of the Internal Revenue Service’s Criminal Investigation in Boston made the announcement. The case was investigated by the Milford Police Department, the FBI and the IRS. The case is being prosecuted by Assistant U.S. Attorney Karin M. Bell of Ortiz’s Worcester Branch Office.