David Eisenhart Pleads Not Guilty To Embezzlement And False Statement Charges

The United States Attorney for the District of Vermont announced that David Eisenhart, 43, of Barre, pleaded not guilty today in United States District Court in Burlington to federal fraud charges. United States Magistrate Judge John M. Conroy released Eisenhart on conditions pending trial, which has not been scheduled.

On December 16, 2015, a federal grand jury in Rutland returned a three-count indictment charging Eisenhart with wire fraud and making false statements in loan applications. According to the indictment, between 2011 and March 31, 2015, Eisenhart was employed as the business manager of Wilkins Harley-Davidson, a motorcycle dealership in Barre. Eisenhart handled all paperwork relating to motorcycle sales. He prepared bills of sale, and collected cash, check and credit card deposits from customers buying bikes. According to the indictment, starting in about 2013 and continuing up through March 2015, Eisenhart embezzled more than $15,500 in cash deposits made by Wilkins customers. He then attempted to conceal the thefts by not reporting or underreporting the amount of the deposit in Wilkins' accounting system, and falsifying the dealership copy of the bill of sale to understate the amount of the deposit.

The indictment further alleges that Eisenhart made false statements to the New England Federal Credit Union in connection with his purchases of an SUV and a motorcycle. According to the indictment, in October 2013, Eisenhart bought a used Cadillac Escalade for $47,095. Two months later, he refinanced the purchase through NEFCU and obtained a loan for almost $59,000. He obtained this loan by submitting to NEFCU a falsified invoice which purported to show the purchase price of the Escalade had been $58,777 rather than $47,095. In May 2015, although NEFCU had a lien on the vehicle, Eisenhart sold the Escalade for $26,000 and pocketed all of the proceeds. According to the indictment, Eisenhart obtained a clean replacement title for the Escalade under false pretenses, by submitting to Vermont Department of Motor Vehicles a forged document purportedly showing NEFCU had released its lien on the SUV.

Finally, the indictment accuses Eisenhart of fraudulently inducing NEFCU to loan him nearly $12,000 to refinance the purchase of a used BMW motorcycle. Eisenhart had bought the bike for $8000 in July 2014. The next month, he obtained a loan for almost $12,000 from NEFCU. In connection with this refinancing, Eisenhart allegedly submitted to NEFCU a falsified bill of sale which asserted the purchase price was $11,983.

The United States Attorney emphasizes that the charges in the indictment are merely accusations and that the defendant is presumed innocent unless and until he is proven guilty.
If convicted, Eisenhart faces up to 30 years of imprisonment and a fine of up to $1,000,000. The actual sentence would be determined with reference to federal sentencing guidelines.
This case was investigated by the Barre Police Department and the Vermont Department of Motor Vehicles.

Eisenhart is represented by Mark Kaplan. The prosecutor is Assistant U.S. Attorney Gregory Waples.