Gregory Thomas Holland, Wire Fraud & Tax Charges, Virginia 2021

ROANOKE, Va. – In a shocking turn of events, Gregory Thomas Holland, a 63-year-old former American Electric Power (AEP) employee, has pleaded guilty to wire fraud and filing false tax returns. The egregious crime has left the community reeling, with the government estimating a staggering loss of 1.6 million dollars.

According to court documents, Holland was employed at AEP from 1982 until January 2018, where he worked for many years in the credit department. Specifically, Holland was responsible for managing AEP’s interests during customer bankruptcies, filing claims, and reducing debts.

Holland admitted to opening a personal checking account using AEP’s name and address without anyone else’s knowledge. Beginning in May 2002, he deposited over 300 checks into this account, written on behalf of AEP customers and made payable to AEP. The money he deposited belonged to AEP, but Holland used it for personal expenses, including dues at the Roanoke Country Club, car payments, and clothing purchases.

Holland failed to report the additional income on his Form 1040 Individual Income Tax Returns for tax years 2011 through 2017, further exacerbating the crime.

Acting United States Attorney Daniel P. Bubar made the announcement today, stating that Holland pleaded guilty to one count of wire fraud and one count of willfully filing a false tax return. He is scheduled to be sentenced on September 10, 2021, and faces a maximum penalty of 20 years in prison.

The United States Secret Service, Internal Revenue Service-Criminal Investigations, and Virginia State Police are investigating the case. Assistant U.S. Attorney Michael Baudinet is prosecuting the case.

Holland’s egregious actions have left AEP and the community at large in a state of shock. The estimated loss of 1.6 million dollars is a staggering blow, and the community is left to wonder how such a crime could have gone undetected for so long.

The case serves as a stark reminder of the importance of accountability and transparency in the workplace. It also highlights the need for robust internal controls and oversight to prevent such crimes from occurring in the future.

Holland’s sentencing hearing is scheduled for September 10, 2021, and the court will determine the exact amount of loss at that time.

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