DAVENPORT MAN FACES FRAUD, MONEY LAUNDERING CHARGES Allegedly Defrauded Former Employer Of $2.7 Million
Rock Island, Ill. – Jim Lewis, U.S. Attorney for the Central District of Illinois, announced that Dominic Scodeller, 47, of the 2000 block of Meadowbrook Drive, Davenport, Iowa, made his initial appearance in federal court today on charges of fraud and money laundering. The grand jury returned the indictment on Oct. 21, 2014; however, the indictment had remained sealed pending the defendant’s arrest and court appearance.
The 15-count indictment alleges that from about 2001 to May 2013, Scodeller defrauded his former employer, Bituminous Insurance Companies (BITCO), which has its headquarters in Rock Island, of at least $2.7 million. As a manager of purchasing and facilities for BITCO, Scodeller allegedly approved payments to bogus entities he created and controlled. After BITCO paid the fraudulent entities, Scodeller allegedly transferred the stolen money from the entities’ accounts for his personal use.
If convicted, the statutory maximum penalty for each count of mail or wire fraud is 20 years in prison, and a fine of up to $250,000; the statutory maximum penalty for each count of money laundering is 20 years in prison, and a fine of up to $500,000, or twice the value of property involved in the transactions, whichever is greater.
Scodeller was arrested today and appeared this afternoon before U.S. District Judge Sara L. Darrow, in Rock Island. Scodeller was ordered temporarily detained in the custody of the U.S. Marshals Service pending a detention hearing scheduled on Oct. 29, at 11:00 a.m.
The case is being prosecuted by Assistant U.S. Attorneys Donald Allegro and Meredith DeCarlo. The matter was referred to federal law enforcement, the FBI and IRS, Criminal Investigation, by BITCO following its internal investigation of the alleged fraud.
Members of the public are reminded that an indictment is merely an accusation; the defendant is presumed innocent unless proven guilty.
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