Daniel West, Wire Fraud, Texas 2016

Houston, Texas - In a shocking case of corporate theft, an accountant has admitted to embezzling over $3 million from a Houston company.

Daniel Nathan West, 50, of Duluth, Georgia, previously worked as the treasurer and chief financial officer for Airis International Holdings.

West resigned from Airis in 2005 to start his own accounting firm, Westtree Financial, which was later contracted by Airis to provide accounting services.

Despite no longer working directly for Airis, West retained signature authority on the company's bank accounts and the power to transfer funds on behalf of Airis.

Between 2005 and 2012, West used his position to embezzle $3,616,563.45 from Airis, which he used to purchase a luxury home in Georgia, a beach house in Florida, an office building in Georgia, and luxury vehicles.

West pleaded guilty to wire fraud and is set to be sentenced on December 5, 2016. He faces up to 20 years in prison.

The FBI conducted the investigation, with Assistant U.S. Attorney Vernon Lewis prosecuting the case.

West was allowed to remain on bond pending his sentencing hearing.

The shocking case highlights the dangers of corporate theft and the importance of proper financial oversight.

Source: https://www.justice.gov/usao-sdtx/pr/accountant-convicted-embezzling-more-3-million-houston-company