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Justice News

Department of Justice
U.S. Attorney’s Office
Eastern District of Pennsylvania

Thursday, October 5, 2017

Former Bookkeeper Indicted For Embezzling Nearly $1.6 Million From New Jersey Cellular Solutions Company

PHILADELPHIA – Acting United States Attorney Louis D. Lappen today announced an indictment charging Peter Goodchild, 54, of Philadelphia, PA, former bookkeeper for QwikSource LLC of Florham Park, NJ, with embezzling almost $1.6 million from QwikSource from at least 2005 through 2015.  Goodchild is also charged with money laundering, aggravated identity theft, and filing false income tax returns during this period. 


According to the indictment, the embezzlement scheme involved a variety of frauds.  Goodchild opened a PayPal account using his employer’s name, transferred funds from QwikSource’s bank account to that PayPal account, from that PayPal account to another PayPal account belonging to his girlfriend, and from his girlfriend’s PayPal account to one or more of his personal bank accounts.  Goodchild further concealed the embezzlement by making financial entries on files he maintained for QwikSource that increased the cost of goods sold by the same amount of the money he wired from QwikSource’s account to the PayPal accounts and his personal bank accounts. 


Goodchild failed to pay taxes on his wealth.  Between 2010 and 2015, he embezzled at least $854,800 and had unreported income of $231,100 in 2010, $215,100 in 2011, $83,600 in 2012, $125,000 in 2013, $152,000 in 2014, and $48,000 in 2015.  His actions created a tax loss of  approximately $240,648. 


The indictment charges 48 counts of wire fraud, 10 counts of money laundering, six counts of filing a false income tax return, and one count of aggravated identity theft.  Wire fraud and money laundering are punishable by up to 20 years in prison.  Filing a false tax return is punishable by up to three years.  Aggravated identity theft is punishable by a mandatory two years of prison that must follow any term imposed on the other counts.  Additionally, Goodchild will be subject to restitution and/or forfeiture of money and substitute assets totaling $1,589,315. 


The case was investigated by the Federal Bureau of Investigation and the Internal Revenue Service and is being prosecuted by Assistant United States Attorney Anita Eve.

Financial Fraud
Updated October 5, 2017