Federal Grand Jury Indicts Former Insider for Defrauding Baton Rouge Company
U.S. Attorney Brandon J. Fremin announced today that a federal grand jury has indicted KATHERINE T. CANCIENNE, age 40, on multiple counts of wire fraud in connection with a scheme to embezzle more than $387,000 from her employer, Engineers & Constructors International, Inc. (“ECI”), a consulting firm that provides engineering and managerial staffing to oil and gas companies. If convicted, the defendant faces a significant prison term, fines, and restitution orders.
The indictment charges the defendant, who formerly handled accounting matters at ECI, with executing her fraud scheme by, among other things, establishing a shell corporation and bank account under the name Cappo, LLC, which had a similar name to an actual ECI vendor. According to the indictment, the defendant caused ECI to issue checks and make electronic wire payments to her shell corporation by creating and submitting false and fraudulent documents to ECI. As a result of this scheme, the defendant allegedly obtained more than $387,000.
U.S. Attorney Brandon J. Fremin stated, “We take very seriously the economic threats posed by corrupt corporate insiders whose misconduct and betrayal often risks the livelihoods of their coworkers by potentially undermining the financial integrity of their employer. All companies are susceptible to this danger. We commend the victim in this matter for identifying this situation to law enforcement and thus possibly preventing further fraud against others. I appreciate the hard work by all those involved in this important matter.”
This matter is being investigated by the U.S. Secret Service, and is being prosecuted by Assistant United States Attorney Pete Smyczek.
NOTE: An indictment is an accusation by a grand jury. The defendant is presumed innocent until and unless adjudicated guilty at trial or through a guilty plea.