⏱ 2 min read
Jacob Wise, a 29-year-old former financial controller from Riverview, Michigan, has admitted to embezzling over $1.1 million from his employer. Wise pleaded guilty to one count of wire fraud and one count of laundering the proceeds of his crimes. The scheme, which involved diverting company funds to bank accounts he controlled, was uncovered by the Federal Bureau of Investigation and the Internal Revenue Service-Criminal Investigations.
Wise used the diverted funds to make purchases, including a Ford F-150 pickup truck, which was seized by agents as part of the investigation. The accounts he controlled appeared to be legitimate vendors for the company, but in reality, Wise was the one benefiting from the scheme.
The case is being prosecuted by Assistant United States Attorneys Kelly Fasbinder and Philip A. Ross. Wise faces a possible maximum sentence of 20 years’ imprisonment, a fine of not more than $250,000, and up to three years of supervised release following any term of imprisonment. Sentencing will be set after a presentence report is prepared.
The investigation and prosecution of Wise’s embezzlement scheme demonstrate the commitment of law enforcement agencies to holding individuals accountable for white-collar crimes. The FBI and IRS-CI worked together to uncover the scheme and bring Wise to justice.
📋 Key Facts
- Crime: White Collar Crime
- Defendant: Michigan
- Location: MI
- Source: DOJ Press Release
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