A former accountant for an investment advising company was recently sentenced in federal court in Boston in connection with a fraud scheme in which he stole more than $3.5 million from his employer.

Gary Tiffany II, 33, of Boston, was sentenced to 51 months in prison, three years of supervised release and ordered to pay restitution of $3,450,304. He pleaded guilty in October 2016 to two counts of wire fraud and one count of monetary transactions in property derived from specified unlawful activity.

Tiffany was responsible for maintaining his employer’s checkbook and making electronic payments on the company’s account to vendors and for office expenses and reimbursements. He was also responsible for downloading monthly bank statements and emailing them to his supervisor to be used to reconcile his employer’s accounts. From about April 2011 through November 2015, Tiffany made wire transfers totaling more than $3 million from his employer’s accounts to his personal accounts, and he forged signatures on about 46 checks payable to himself totaling about $456,000. Tiffany concealed his scheme by making false entries in his employer’s electronic accounting system and altering bank statements he obtained online before forwarding them to his supervisor. Tiffany obtained a total of about $3,557,304 from his employer’s accounts, nearly all of which he used for his own benefit.

Accountant Sentenced To Prison For Stealing $3.5M From Employer

by Banker & Tradesman time to read: 1 min
0