Baltimore, Maryland – A Salisbury man has admitted to stealing more than $1.8 million from a company where he worked.
Duane G. Larmore, age 47, of Salisbury, Maryland, pleaded guilty today to a wire fraud conspiracy and to aggravated identity theft in connection with the theft of more than $1.8 million from Shore Appliance Connection, where Larmore worked.
The guilty plea was announced by United States Attorney for the District of Maryland Erek L. Barron and Special Agent in Charge Thomas J. Sobocinski of the Federal Bureau of Investigation, Baltimore Field Office.
According to his plea agreement, from mid-September 2016 through about March 2020, Larmore conspired with others to steal more than $1.8 million from a Salisbury, Maryland company, Shore Appliance Connection, owned and operated by Owner #1 and Owner #2, that sold household appliances as well as mattresses and bedding.
Specifically, Larmore and his co-conspirators stole over $1 million from Shore Appliance to use for their own purposes, including to make investments and to pay business expenses for the co-conspirator’s business, without the knowledge and consent of the owners of Shore Appliance.
To conceal how much money had been removed from Shore Appliance and to obtain cash, Larmore used the identities of the owners to enter into factoring contracts.
In all, Larmore paid $739,295.28 of Shore Appliance’s funds, without the officers and owners’ knowledge or consent, to invest in fraudulent schemes that never paid any moneys.
Larmore used his position of trust with Shore Appliance and signature authority over its bank accounts to draw on Shore Appliance’s lines of credit with two separate financial institutions to obtain another $200,000 in cash to conceal his use of Shore Appliance’s funds.
Larmore used his own email address and cell phone number with factors but identified that email address and cell phone number as belonging to Owner #1.
Larmore also allegedly provided the factors with details of the owners’ identities, including dates of birth, Social Security numbers, and Maryland drivers’ licenses, without their permission.
Defendant: Duane G. Larmore, 47, of Salisbury, Maryland.
Criminal Charges: wire fraud conspiracy and aggravated identity theft.
City: Salisbury, Maryland.
Date: mid-September 2016 through about March 2020.
Sentence: Outcome pending.
Dollar Amounts: $1.8 million, $1 million, $739,295.28, $200,000.
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Key Facts
- State: Maryland
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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