Feds: Six-Year Prison Term for Chantilly's K&R Industries Accountant Who Stole Millions
Feds: Six-Year Prison Term for Chantilly's K&R Industries Accountant Who Stole Millions
Federal authorities say defendant stole millions from Chantilly company where he worked as the chief financial officer.
http://chantilly.patch.com/articles/feds-six-year-prison-term-for-kr-industries-accountant-who-stole-millions
The former CFO of Chantilly-based K&R Industries, Melvin Mooring of Gainesville, has been sentenced to six years in prison for stealing $3.3 million from the company, according to U.S. Department of Justice and Internal Revenue Service (IRS) officials.
U.S. District Court Judge Liam O’Grady also ordered Mooring to pay more than $3.5 million in restitution to his victims, according to a Department of Justice press release.
An investigation revealed that Mooring, the chief financial officer for 10 years at K&R Industries in Chantilly, was the target of the thefts. He pleaded guilty in March to wire fraud and tax evasion in connection with the theft.
K&R Industries, according do its Facebook page, "is the industry leader in delivering promotional marketing solutions, corporate apparel and awards, that drive brand awareness."
Prosecutors said Moore stole $3.3. million from the company between 2004 and 2011, and used it to fund a plush personal lifestyle which included a luxurious home, trips and a BMW.
He used company checks and wire transfers to route the money through the bank account of a company he controlled. He concealed the crime by altering company financial statements, investigators said.
Federal authorities said Mooring didn't report the stolen funds as income on his individual income tax returns for the years 2005 through 2010, resulting in about $865,426 in losses to the U.S. Treasury.
The case was investigated by officials with the IRS Criminal Investigation unit. Assistant U.S. Attorney Paul J. Nathanson and tax division trial attorney Tracy L. Gostyla prosecuted the case.