Former Fayette County Horse Farm Manager Sentenced in Fraud Scheme
Memphis, TN - Zachary M. Baker, 32, was sentenced to serve 33 months in federal prison in connection with theft of over $800,000 from his former employer. D. Michael Dunavant, U.S. Attorney for the Western District of Tennessee announced the sentence today.
Baker entered a guilty plea to a one-count information in August. According to the information, Baker was hired to manage Masterson Farms, a horse breeding farm located in Somerville, Tennessee. Beginning in January 2013, Baker began stealing from Masterson Farms by writing checks payable to himself; Zigadoo Moneyclips, a band he managed; and another individual identified as "E.L.M." According to the information, Baker also stole funds by making online payments on his personal credit card accounts with funds transferred from the Masterson Farms bank accounts. Between January 2013, and April 9, 2018, the information alleged that Baker stole over $810,000.
On Wednesday, December 19, 2018, U.S. District Court Judge John T. Fowlkes Jr., sentenced Baker to 33 months in federal prison. In addition, Baker was sentenced to two years supervised release and ordered to pay restitution to Masterson Farms, Capital One and Sedgwick in the total amount of $838,010.58.
U.S. Attorney D. Michael Dunavant said, "Financial fraud can happen anywhere, and can be devastating to local businesses. The defendant used his position of trust and authority to steal proceeds for his own personal benefit and unjust enrichment, and his dishonesty has been exposed. Wherever fraud occurs in the Western District of Tennessee, this office will be prepared to hold offenders accountable."
This case was investigated by the Federal Bureau of Investigation.
Assistant U.S. Attorney Carroll L. André III, prosecuted this case on the government’s behalf.