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The Department of Justice shared an official Press release on the case from the United States Attorney’s Office for the Northern District of Ohio.
Michael Herman, 45, had his Certified Public Accountant (CPA) license and worked as a controller within his organization. He embezzled funds from the anonymous company between 2016 and 2020.
According to the press release, Herman used the funds for moving expenses, child support payments in New York state and various other purchases. He also failed to report the proceeds from his scam on his tax documents in 2016, 2017, 2018 and 2019.
Herman faces six charges, including money laundering and filing false tax returns with the IRS.
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Youngstown News Station WKBN27 It noted that the former CPA is “accused of running the scheme through the use of a series of unauthorized bank transfers, fictitious checks, and fraudulent charges on his employer’s credit cards.”
It appears that Herman used his role, which included payroll adjustments, to perpetrate the embezzlement plot.
The case was jointly investigated by the Cleveland FBI, the Akron Resident Agency and the IRS Criminal Investigation division. At this time, it is not known if Herman and his legal team will opt for a jury trial or if he will accept a plea deal.
What do you think about the embezzlement case in northern Ohio?
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