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Bank Thief Sentenced to Prison
Kenneth Gould, a 69-year-old former resident of Clovis, California, has been sentenced to one year in prison for stealing more than $800,000 from a bank. Acting U.S. Attorney Michele Beckwith announced the sentence today.
According to court records, Gould was a Certified Public Accountant (CPA) who operated a payroll services company in Clovis. From October 2017 through March 2018, he initiated several fraudulent electronic payments from one of his clients’ accounts to his payroll company’s account at the bank. While the payments were pending, the bank credited significant portions of the funds to Gould’s account.
Gould then quickly withdrew those funds in cashier’s checks, leaving the bank with insufficient funds to cover the payments. The bank later realized its mistake and attempted to recover its money, but it was too late. Approximately $830,000 of the credited funds was already gone.
Gould gave the stolen money to a client from whose account he initiated the fraudulent payments. The client, who had borrowed money from Gould, gambled the stolen funds away.
The investigation into Gould’s crime was led by the Federal Bureau of Investigation. Assistant U.S. Attorney Joseph Barton prosecuted the case.
Gould’s actions demonstrate a brazen disregard for the law and a callous disregard for the consequences of his actions. His sentence serves as a reminder that those who engage in white-collar crime will be held accountable.
Gould’s prison sentence is a significant blow to his victims, who will likely spend years recovering from the financial losses they suffered as a result of his actions.
Key Facts
- State: California
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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