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Salt Lake Man Sentenced To 21 Months In Prison For Money Laundering In Connection With Diversion Of Funds From Business

FOR IMMEDIATE RELEASE
June 06, 2013

 

Sentence Includes Order to Pay $986,073.03 in Restitution to Business 

            SALT LAKE CITY – David Merrill, age 42, of Salt Lake City will serve 21 months in federal prison after pleading guilty to money laundering in connection with a scheme to divert money from High Street Funding, where he worked from 2006 through 2011, to his personal accounts.

U.S. District Judge Robert J. Shelby also ordered Merrill to pay $986,073.03 in restitution to the business and imposed 36 months of supervised release following the completion of the prison sentence.

According to a Felony Information filed in the case, the business is a privately-owned equipment leasing company in Utah.   It enters into equipment leasing agreements with client businesses, leasing equipment based on monthly payments.

As a part of a plea agreement with federal prosecutors, Merrill admitted that during the course of performing his job duties at the leasing business, he directed approximately $1 million in client payments to his accounts at various banks in Utah. He admitted the activity was unknown to his employer and done without the employer’s authorization.

The case was prosecuted by the U.S. Attorney’s Office in Salt Lake City and investigated by special agents of IRS Criminal Investigation.

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