Man Pleads Guilty to Embezzling Over $19 Million from IT Company
ALEXANDRIA, Va. – A Nokesville man pleaded guilty today to embezzling approximately $19.3 million from his employer, an information technology company headquartered in Reston.
According to the statement of facts filed with the plea agreement, Jon Frank, 48, worked at the company as the controller. From 2007 until January 2017, he used his position to initiate transfers of approximately $19.3 million from the company’s bank account to his personal accounts. He created false documents to make it appear that the money was being sent as reimbursement to another company that was administering the health insurance plan for Frank’s employer. Relying upon his knowledge and the altered documents, he was able to mislead the individuals performing audits of the company’s financial records. Frank spent the money on expensive automobiles and real estate, among other things.
Frank pleaded guilty to wire fraud, and faces a maximum penalty of 20 years in prison when sentenced on September 8. Actual sentences for federal crimes are typically less than the maximum penalties. A federal district court judge will determine any sentence after taking into account the U.S. Sentencing Guidelines and other statutory factors.
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 U.S. District Judge Leonie M. Brinkema accepted the plea. Assistant U.S. Attorney Jack Hanly is prosecuting 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-144.