Former Presidio Title C.F.O. Sentenced to Federal Prison for Stealing over $367K from Company

In San Antonio this afternoon, a federal judge sentenced Joseph P. Karpowicz, 48-year-old former Chief Financial Officer for Presidio Title (Presidio), to 30 months in federal prison for stealing over $367,000 from the San Antonio real estate title company announced United States Attorney Richard L. Durbin, Jr.

In addition to the prison term, United States District Judge Xavier Rodriguez ordered that Karpowicz pay $367,309 restitution to his victim and be placed on supervised release for a period of three years after completing his prison term.

On August 24, 2016, Karpowicz pleaded guilty to one count of mail fraud and one count of engaging in financial transactions with criminally derived proceeds.

According to court records which the defendant admitted were factually correct, Karpowicz schemed to steal the money from Presidio between April 2010 until June 2013. Karpowicz issued Presidio checks to pay for his own personal expenses and credit card bills, then created materially false entries in Presidio’s records in order to hide his fraudulent conduct.

The United States Secret Service Identity Theft Task Force together with the Internal Revenue Service-Criminal Investigation conducted this investigation. Assistant United States Attorney Thomas P. Moore prosecuted this case on behalf of the Government.