Jesse Arden Sherman, Wire Fraud, Washington 2024
Seattle – A former Controller of a Shelton, Washington, outdoor equipment company was sentenced to 12 months and one day in prison for his embezzlement scheme that stole more than $665,000 from the company.
Jesse Arden Sherman, 63, of Elma, Washington, illegally diverted company funds to his own accounts between 2012 and 2018. In addition, Sherman failed to pay taxes on his ill-gotten gain, resulting in a tax debt of $202,196.
At the sentencing hearing, U.S. District Judge Tiffany M. Cartwright emphasized the economic and non-economic losses experienced by the victim company and its employees.
According to records filed in the case, Sherman began working for Sims Vibration Laboratory Inc. in 2008. In his role as controller, he had complete access and control of the company accounting systems and banking functions.
In 2012, he began abusing the trust the company had placed in him, by using a variety of schemes to steal from the company. Sherman made false representations to the company’s owner and President, he created false business records, and he created payroll checks and other checks that he deposited in his own accounts.
Sherman’s fraud resulted in a loss to the company of at least $665,840. As a Certified Public Accountant Sherman knew that he owed taxes on the money he obtained by fraud, but he failed to pay the $202,196 he owed on his taxes between 2013 and 2018.
Key Facts
- State: Washington
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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