Grimy Times has learned that a former Alaska treasurer has been charged with embezzling over $1.16 million from the City of Houston and a Wasilla-based equipment company.
According to a federal indictment, Jess George Adams of Willow, Alaska, allegedly used his position as treasurer to embezzle funds from the City of Houston between 2015 and 2018. The indictment claims that Adams used his access to direct electronic transfers from the city’s bank account to a personal account in his name, while using fictitious entries in the city’s accounting software to conceal the payments.
Adams allegedly continued this scheme after leaving his position with the City of Houston, using his new role as a bookkeeper with a Wasilla-based equipment company to embezzle funds from 2018 to 2022. The indictment claims that Adams used fictitious entries in the company’s accounting software to make it appear as though the funds were transferred for legitimate business expenses.
The indictment also alleges that Adams laundered the embezzled funds by making several wire transfers from his personal bank account to other accounts, each valued at over $10,000.
Adams allegedly attempted to conceal his embezzlement and evade the assessment of income taxes by filing false individual income tax returns for tax years 2016 through 2021. The indictment claims that 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.
Acting Deputy Assistant Attorney General Stuart M. Goldberg and U.S. Attorney S. Lane Tucker made the announcement, with assistance from IRS-Criminal Investigation and the Alaska State Troopers. Trial Attorney Boris Bourget of the Tax Division and Assistant U.S. Attorney George Tran 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.
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Key Facts
- State: Alaska
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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