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Press Release

Former Chief Financial Officer Indicted for Stealing Over $1.6 Million from Three Employers

For Immediate Release
U.S. Attorney's Office, District of Maryland

Greenbelt, Maryland – A federal grand jury has indicted Christopher C. Camut, age 52, of Baltimore, Maryland, on charges arising from a scheme to fraudulently obtain over $1.6 million from three companies at which he was employed as the chief financial officer.  The indictment was returned on June 15, 2015, and unsealed today at his initial appearance in federal court in Greenbelt.  Camut was released under the supervision of U.S. Pretrial Services.

The indictment was announced by United States Attorney for the District of Maryland Rod J. Rosenstein and Special Agent in Charge Stephen E. Vogt of the Federal Bureau of Investigation.     

Company A, which is headquartered in Silver Spring, Maryland, is a non-profit organization dedicated to developing microbicides that can provide women in developing countries with protection against HIV infection.  Company B manufactures products for the medical industry. Company C develops medical countermeasures against biological and chemical threats, and has an office in Annapolis, Maryland.

According to the 16 count indictment, Camut was the chief financial officer for: Company A between August 2012 and August 2014; Company B between May 2010 and September 2011; and Company C between January 2007 and April 2010.  From January 2008 to May 2014, Camut created engagement letters, agreements and invoices to make it appear as if financial institutions had provided services to the companies.  He caused the companies to issue checks payable to financial institutions, which Camut then deposited into his personal bank accounts.

The indictment further alleges that Camut created agreements between coconspirator Kaitlyn Jones and Companies A, B and C, which falsely represented Jones’ profession.  Camut caused the three companies to transfer by wire and issue checks payable to Jones, although Jones performed no work for the companies.  Camut and Jones shared the proceeds received from the companies.

The indictment seeks forfeiture of at least $1,618,951, the amount of money Camut allegedly stole from the companies.

Camut faces a maximum sentence of 20 years in prison for conspiring to commit wire fraud and on each of 13 counts of wire fraud; and a mandatory minimum of two years in prison on each of two counts for aggravated identity theft consecutive to any other sentence imposed.

Kaitlyn Jones, age 48, of Reisterstown, Maryland, pleaded guilty to her participation in the conspiracy and awaits sentencing.

An indictment is not a finding of guilt.  An individual charged by indictment is presumed innocent unless and until proven guilty at some later criminal proceedings.

United States Attorney Rod J. Rosenstein praised the FBI for its work in the investigation and thanked Assistant United States Attorneys Leah Jo Bressack and David I. Salem, who are prosecuting the case.

Updated July 23, 2015

Financial Fraud