ANCHORAGE, ALASKA – In a shocking turn of events, Jess George Adams, a former city treasurer, has been arrested and charged with wire fraud, money laundering, and tax evasion.
According to federal investigators, Adams allegedly embezzled more than $1.16 million from the City of Houston in Alaska and from a Wasilla-based equipment company between 2015 and 2022.
The indictment, unsealed this week, alleges that Adams used his position as treasurer to direct electronic transfers of funds from the city’s bank account to his personal account. He allegedly used fictitious entries in the city’s accounting software to make it appear as though these payments were made for legitimate business expenses.
In 2018, the City of Houston placed Adams on administrative leave, and he resigned his position in November of that year. However, Adams’ troubles didn’t end there. He allegedly went on to work as a bookkeeper for an equipment company, where he exercised control over the company’s accounting records and software.
Using this access, Adams allegedly directed electronic transfers of funds from the company’s bank account to his other personal accounts at multiple banks, maintained by Adams to hide the embezzled funds. To conceal his activity, Adams allegedly used fictitious entries in the company’s accounting software to make it appear as though these funds were transferred for the payment of legitimate business expenses.
Adams also allegedly laundered the embezzled money he obtained from the equipment company by making several wire transfers from his personal bank account to other accounts, each at a value greater than $10,000.
The indictment further charges that Adams filed false individual income tax returns for tax years 2016 through 2021, which did not disclose the additional income he diverted to himself. According to the indictment, Adams was a former seasonal tax return preparer for a national tax advisory company.
Adams is scheduled to make his initial court appearance today before U.S. Magistrate Judge Kyle F. Reardon of the U.S. District Court for the District of Alaska. If convicted, he faces a maximum penalty of 20 years in prison for each wire fraud count, 10 years in prison for each money laundering count, and 5 years in prison for each tax evasion count.
A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.
U.S. Attorney S. Lane Tucker for the District of Alaska and Acting Deputy Assistant Attorney General Stuart M. Goldberg of the Justice Department’s Tax Division made the announcement.
IRS-Criminal Investigation is investigating the case with substantial assistance from the Alaska State Troopers.
Assistant U.S. Attorney George Tran for the District of Alaska and Trial Attorney Boris Bourget of the Justice Department’s Tax Division are prosecuting the case.
An indictment is merely an allegation and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.
Related Federal Cases
- Peter Igwacho, Wire Fraud, Alaska 2024 · Alaska
- Paul D. Stockler, Tax Evasion, Alaska 2006 · Alaska
- Garrett Elder, Wire Fraud Scheme, Anchorage AK, 2016-2022 · Alaska
- Arvaham Zano, Wire Fraud, Florida 2023 · Arkansas
- Leihinahina Sullivan, Wire Fraud and Aggravated Identity Theft, California 2019 · Hawaii
Key Facts
- State: Alaska
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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