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Press Release

Bookkeeper Sentenced In Manhattan Federal Court To 2 Years In Prison For Embezzling Over $3.3 Million From Literary Agency And Its Clients

For Immediate Release
U.S. Attorney's Office, Southern District of New York

Geoffrey S. Berman, the United States Attorney for the Southern District of New York, announced today that DARIN WEBB was sentenced in Manhattan federal court to two years in prison for defrauding Donadio & Olson, a Manhattan-based literary agency (the “Agency”), and its clients of over $3.3 million.  WEBB provided bookkeeping services for the Agency and carried out his scheme by making unauthorized transfers from the Agency’s bank accounts, and then making changes to the Agency’s accounting system to evade detection.  WEBB pled guilty on July 25, 2018, to one count of wire fraud before U.S. District Judge Edgardo Ramos, who also imposed today’s sentence.

U.S. Attorney Geoffrey S. Berman said:  “Darin Webb, a bookkeeper for a literary agency, admitted to embezzling more than $3.3 million from the agency, and then changing their accounting system to evade detection.  Webb’s theft was eventually uncovered, and he is now sentenced to two years in federal prison.”

According to allegations contained in the Information filed against Webb and statements made in related court filings and proceedings:  

From 2001 through March 2018, WEBB was engaged as a bookkeeper for the Agency.  From January 2011 through March 2018, WEBB used his position as the Agency’s bookkeeper to transfer more than $3.3 million of funds, belonging to the Agency and its clients, from the Agency’s bank accounts to bank accounts that WEBB controlled.  In order to evade detection of his criminal conduct and carry out his scheme, WEBB made changes to the Agency’s accounting records to disguise the nature of the transfers.

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In addition to his prison term, WEBB, 48, of Manhattan, New York, was sentenced to three years of supervised release, a forfeiture money judgment in the amount of $3,300,000, and restitution in an amount to be determined.

Mr. Berman praised the work of the FBI.

This case is being handled by the Office’s Securities and Commodities Fraud Task Force. Assistant U.S. Attorney Christine I. Magdo is in charge of the prosecution.

Updated December 17, 2018

Financial Fraud
Press Release Number: 18-443