Shepherdsville, Kentucky, Man Charged With Embezzling Over $800,000 From His Employer
– Alleged to have manipulated accounting entries to pay himself bonuses
LOUISVILLE, Ky. – The indictment of a Shepherdsville, Kentucky man, charged with multiple counts of wire fraud, was unsealed Friday, September 5, 2014, in United States District Court, announced David J. Hale, United States Attorney for the Western District of Kentucky.
Robert Kaiser, 58, was charged in a twelve count Indictment on September 4, 2014 with theft of more than $800,000 from his employer, C&M Services of Kentucky, Inc. (“C&M Services”) between June 6, 2006 and March 26, 2013, and with an attempt to defraud Fifth Third Bank by submitting fraudulent financial statements to obtain a loan.
According to the Indictment, Kaiser caused unauthorized transfers of monies to accounts he controlled, by fraudulently manipulating accounting entries in order to pay himself performance compensation and bonuses. Further, the Indictment alleges that Kaiser fraudulently transferred funds of C&M Services via credit card transfers and checks for unauthorized personal expenditures, and then concealed all of his theft from C&M Services by making false accounting entries and submitting fraudulent financial statements to obtain a revolving line of credit from Fifth Third Bank in order to conceal his theft.
In furtherance of the scheme, Kaiser caused interstate automated clearing house financial transfers from the C&M Services bank accounts at Fifth Third and Republic Banks to his personal Wells Fargo Credit Card accounts. According to the Indictment, Kaiser made eleven transactions between September 9, 2009, and January 22, 2013.
Also, between December 14, 2012, and March 26, 2013, Kaiser allegedly submitted materially false financial statements to Fifth Third Bank to obtain a revolving loan line of credit in the amount of $1,815,000.
“When the Secret Service receives allegations about people of high standing in companies taking advantage of their position of trust, we will investigate possible criminal activity,” stated Special Agent in Charge Paul R. Johnson of the U.S. Secret Service Louisville Field Office. “The Secret Service is committed to vigorously pursuing ‘Trusted Insiders’ who operate illegally within business organizations.”
If convicted at trial, Kaiser would forfeit real property he obtained, directly or indirectly, as a result of the violations alleged in the Indictment. Kaiser could be sentenced to no more than 20 years in prison for counts 1-11 of the indictment and no more than 30 years for count twelve, a fine of $1,250,000 and three years of supervised release.
This case is being prosecuted by Assistant United States Attorney Joshua Judd and is being investigated by the United States Secret Service, Louisville Field Office.
The indictment of a person by a Grand Jury is an accusation
only and that person is presumed innocent until and unless