Indianapolis man charged in fraud case
Accounting manager alleged to have stolen over $1 million from Westside company
INDIANAPOLIS - United States Attorney Josh J. Minkler announced today an Indianapolis man was charged with mail fraud in a scheme where over $1 million was stolen from a local business. Ryan M. King, 43, Indianapolis, was charged by an Information today with wire fraud in an investigation conducted by the Federal Bureau of Investigation.
“Financial crimes affect us all,” said Minkler. “They remove billions of dollars from investors and often negatively impact our economy. Mr. King will no longer be lining his pocket with others people’s money.”
King was employed as an accounting manager with the Carrier Corporation, a subsidiary of United Technologies Corporation (UTC). The Carrier Company operates its offices on West Morris Street in Indianapolis. From February 2013, through February 2015, King was entrusted to oversee UTC’s financial transactions including cost accounting, payroll and financial statements. In June 2013, King opened an unauthorized personal checking account in the name of “Carrier Services” at Bank One.
King communicated with several UTC vendors using his business email account, instructing them to write checks for outstanding invoices to Carrier Services. King would then deposit the checks into his personal account making the vendor think their payment was going to UTC. He further communicated with other vendors by sending inflated invoices through facsimile transmissions instructing them to wire transfer payment directly into the Carrier Services account. The government alleges that in total, the scheme defrauded victim companies of over $1,095,000.
W. Jay Abbott, Special Agent in Charge, stated, “The FBI will aggressively pursue those who commit financial fraud. It is a priority to the Bureau to protect the American public from these types of crimes. Those who contemplate conducting such criminal activity should know it will be vigorously investigated by the FBI.”
According to Assistant United States Attorney Cynthia J. Ridgeway, who is prosecuting this case for the government, King faces up to 20 years if convicted.
An Information is only a charge. All defendants are presumed innocent until proven guilty in federal court.