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Former Jericho Road Employee Charged with Theft of Government Funds
BUFFALO, N.Y.-A shocking case of embezzlement has come to light in Western New York, as Dejan Karlovic, a 29-year-old resident of Amherst, has been arrested and charged with theft of government funds.
According to the U.S. Attorney’s office, Karlovic was employed by Jericho Road as a Senior Grants Accountant from October 16, 2023, to July 2, 2024. During this time, he had access to three commercial credit cards issued through M&T Bank, which he allegedly used to steal over $574,000 in funds.
Between March 1 and June 26, 2024, Karlovic made numerous transactions on the credit cards, including charges related to UHAUL, with many of the most significant UHAUL-related charges supported by invoices from an entity named D and D.
However, an investigation by the Federal Bureau of Investigation revealed that Karlovic had also been able to obtain access to a Ramp credit card, despite not being authorized to do so. He was able to make legitimate program purchases using the card, but also used it to conduct over $10,000 in D and D-related transactions between April 10 and June 17, 2024.
Subsequent investigation determined that some of the funds allegedly stolen by Karlovic were transferred to his personal bank account at Northwest Bank, coinciding with transactions on the M&T credit cards.
Jericho Road became aware of the suspicious nature of the transactions involving D and D and conducted an internal investigation, concluding that the charges were not for legitimate business purposes. Since Karlovic’s access was revoked, no new purchases from D and D have cleared on Ramp.
The criminal complaint, filed by Assistant U.S. Attorney David J. Rudroff, carries a maximum penalty of 10 years in prison and a $250,000 fine.
The defendant is presumed innocent until and unless proven guilty.
Mandatory Facts:
Defendant/Respondent: Dejan Karlovic
Criminal Charges: Theft of government funds
City and State: Buffalo, New York
Date: October 16, 2023 – July 2, 2024
Sentence or Outcome: Maximum penalty of 10 years in prison and a $250,000 fine
Dollar Amounts: Over $574,000 in funds stolen, over $10,000 in D and D-related transactions
Key Facts
- State: New York
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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