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St. Louis Finance Director Admits to $331,000 Embezzlement Scheme
St. Louis, MO – In a shocking admission of greed, James Guccione, 51, of St. Louis County pleaded guilty to wire fraud this afternoon before Chief Judge Rodney Sippel in St. Louis.
According to his plea agreement, Guccione admitted to a brazen fraud scheme whereby he ordered computer hardware and software through his employer and converted the equipment to his own use. Additionally, Guccione admitted to falsifying reimbursement requests from his employer which were directed into his personal bank account. As Director of Finance, Guccione admitted he abused a position of trust in the execution of the fraud scheme.
The U.S. Attorney’s Office contends that more than $331,000 was taken during the scheme, leaving a trail of financial destruction in its wake. Guccione’s admission of guilt is a stark reminder that no one is above the law, and that even the most trusted individuals can fall victim to the temptation of greed.
The case was investigated by the Clayton Police Department with assistance from the St. Louis County Prosecuting Attorney’s Office. Tom Albus is handling the case for the U.S. Attorney’s Office.
Judge Sippel accepted Guccione’s plea and deferred sentencing until December 21, 2018. The maximum penalty for wire fraud is 20 years’ imprisonment, a fine of $250,000 or both. Restitution to the victim is also mandatory. Guccione’s actions have left a stain on his reputation and a significant financial burden on the company he once served.
The U.S. Attorney’s Office is committed to protecting the public from individuals who abuse their positions of trust. This case serves as a reminder that the U.S. Attorney’s Office will vigorously pursue those who engage in such behavior and bring them to justice.
Guccione’s plea agreement is a stark reminder that crime does not pay, and that those who engage in such behavior will ultimately face the consequences of their actions.
This is a developing story, and we will continue to provide updates as more information becomes available.
Key Facts
- State: Missouri
- Category: White Collar Crime|Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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