Ex-Financial Controller Confirms That He Stolen Almost Half a Million from a Family-Owned San Diego Business

Former Financial Controller Admits to Embezzling Almost Half a Million Dollars from Family-Owned San Diego Business
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By Daniel Webster, dWeb.News

NEWS RELEASE SUMMARY – July 21, 2021SAN DIGO – Derick Jonathan Cam of Vancouver, Washington pleaded guilty today to wire fraud. He admitted that he embezzled more $400,000. while working as the Financial Controller at San Diego’s RAL Investment Corporation.
Cameron, a U.S. Magistrate Judge Jill L. Burkhardt admitted that he had abused his company’s accounting software. He issued more than 200 unauthorized check to himself using the electronic signature from the company’s CFO. The checks were then deposited into his personal bank account. Cameron then disguised the payments by manipulating company accounting records to make it appear each check was issued to legitimate third-party vendors for business expenses. Cameron’s fraudulent activities were discovered by the company in April 2018. Cameron was fired and the conduct reported to law enforcement. Cameron wasn’t able to repay his promises on time.
“The effects of fraud on small businesses can prove devastating,” stated Acting U.S. attorney Randy Grossman. “This defendant abused his trust position to enrich himself and he was held accountable for his crime.” Grossman praised Rebecca Kanter, Assistant U.S. attorney, and the FBI case agents who handled this case.
“Mr. Cameron treated the job of Financial Controller like a private expense account, thinking he deserved more money,” stated Suzanne Turner, FBI Special Agent in Charge. “His actions put the business’s livelihood in danger. Hopefully today’s guilty plea will bring closure and justice to the victim.”
Cameron will be sentenced by U.S. District Judge Todd W. Robinson on October 18, 2021, at 9:30 AM.
DEFENDANT Case Number 21cr2128 – TWR
Derick Jonathan Cameron Age: 37 Vancouver, Washington
SUMMARY OF CHARGES
Wire Fraud – Title 18, U.S.C., Section 1343
Maximum Penalty: Twenty years in prison or $250,000 fine. Or twice the gain/loss whichever is greater.
AGENCY
Federal Bureau of Investigation

More dWeb.News Crime and Punishment at https://dweb.news/category/crime-and-punishment/

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