Casper’s Cash Heist: Ex-CFO Gets 24 Months for $694,000 Embezzlement Scheme

CHARLOTTE, N.C. – In a brazen display of greed, John M. Casper, 60, of Charlotte, has been sentenced to 24 months in prison followed by one year of supervised release for embezzling thousands of dollars from his employer, announced Dena J. King, U.S. Attorney for the Western District of North Carolina.

Between 2018 and 2020, Casper misused his position as Chief Financial Officer (CFO) to embezzle more than $694,000 from the victim company. Court documents show that Casper executed the embezzlement scheme by conducting approximately 112 unauthorized financial transactions, transferring funds from the victim company’s accounts to bank accounts under Casper’s control.

As the victim company’s CFO, Casper used his access to the company’s accounting system to disguise the fraud, by creating fake or incorrect financial entries in the company’s books and records so that the victim company’s books would reconcile. It’s a textbook example of how a trusted executive can exploit their position for personal gain.

On September 19, 2023, Casper pleaded guilty to wire fraud. Casper will be ordered to report to a designated United States Bureau of Prisons facility to begin serving his sentence of incarceration. This sentence sends a clear message that embezzlement will not be tolerated in our community.

In making today’s announcement, U.S. Attorney King thanked the FBI in Charlotte for their investigation of the case. Assistant U.S. Attorney Graham Billings of the U.S. Attorney’s Office in Charlotte prosecuted the case.

Casper’s actions not only hurt his employer but also damaged the trust of the community. His sentence serves as a reminder that those who abuse their position of power will face justice. The Grimy Times will continue to hold those in power accountable for their actions.