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Justice News

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

FOR IMMEDIATE RELEASE
Friday, July 21, 2017

Former Executive Sentenced for $2.5 Million Embezzlement Scheme

ALEXANDRIA, Va. – A Florida man who over seven years embezzled almost $2.5 million from a small business fencing company was sentenced today to 63 months in prison and ordered to pay nearly $2.5 million in restitution to victims.

Donald Gasser, 59, of Sorrento, Florida, pleaded guilty to wire fraud on April 5. According to court documents, Gasser served as the Chief Financial Officer and Treasurer of a small business operating out of Dulles that installed fences and decks. Between 2008 and 2015, Gasser used his position to embezzle over $2.3 million from the company. Without authorization, Gasser opened new financial accounts in the company’s name and directed accounts statements to his home. Gasser wrote company checks payable to himself, issued business checks to pay for personal expenses, and used funds embezzled directly from company to purchase luxury items such as a personal watercraft. As a result of the fraud, the fencing company was forced to lay off a portion of its workforce and its owners were assessed a tax lien of over $1 million.

Dana J. Boente, U.S. Attorney for the Eastern District of Virginia; and Andrew W. Vale, Assistant Director in Charge of the FBI’s Washington Field Office, made the announcement after sentencing by U.S. District Judge Anthony Trenga. Assistant U.S. Attorney Uzo Asonye prosecuted the case.

A copy of this press release is located on the website of the U.S. Attorney’s Office for the Eastern District of Virginia. Related court documents and information is located on the website of the District Court for the Eastern District of Virginia or on PACER by searching for Case No. 1:17-cr-64.

Topic(s): 
Financial Fraud
Contact: 
Joshua Stueve Director of Communications joshua.stueve@usdoj.gov
Updated July 24, 2017