NEWARK, N.J. – In a recent development, 53-year-old Richard Winter from Pompton Lakes, Passaic County, New Jersey, has admitted to embezzling funds from clients of his bookkeeping business. This admission came during a hearing before U.S. District Judge Esther Salas in Newark federal court.
Winter pleaded guilty to one count each of wire fraud and tax evasion. Court documents and statements reveal that from January 2016 to December 2019, Winter, as a bookkeeper for various companies, orchestrated a scheme to misappropriate substantial amounts of money from his clients.
He executed this by authorizing bank wire transfers to his accounts, diverting vendor payments through an online portal, and cashing checks made payable to “cash” from client companies.
Additionally, Winter did not file tax returns to report the income earned through these fraudulent activities for the tax years 2016 to 2019.
The wire fraud charge holds a maximum penalty of 20 years in prison and a $250,000 fine, or twice the gross gain or loss from the offense. The tax evasion charge could result in up to five years of imprisonment and a $100,000 fine, or twice the gross gain or loss. Sentencing is set for July 9.