A 45-year-old Conroe man is behind bars after being indicted on 12 counts of bank fraud tied to a brazen scheme to siphon more than $484,873.95 from his employer, federal prosecutors revealed. Kiran Andhavarapu faces up to 30 years in prison per count if convicted.
The indictment, returned under seal by a federal grand jury on November 30, 2016, was unsealed today following Andhavarapu’s arrest by federal authorities in the Southern District of Texas. He is scheduled to appear before U.S. Magistrate Judge Dena Palermo this morning in Houston.
According to the charges, Andhavarapu exploited his position at Weatherford and its subsidiary, EProduction Solutions, L.L.C., to open unauthorized bank accounts in the company’s name—listing himself as sole owner and proprietor. These accounts were not affiliated with the legitimate business operations of EProduction.
He then allegedly intercepted refund checks made payable to and belonging to Weatherford and EProduction Solutions, depositing them directly into the phony accounts he controlled. The theft spanned a period during which he had access to company financial channels, allowing the fraud to go undetected for an extended duration.
The FBI led the investigation into the financial deception, uncovering a paper trail that linked Andhavarapu directly to the fraudulent deposits and account creations. Assistant U.S. Attorney Justin R. Martin is prosecuting the case, emphasizing the seriousness of internal financial betrayal.
An indictment is not a conviction. Kiran Andhavarapu is presumed innocent until proven guilty in a court of law. The federal government must establish guilt beyond a reasonable doubt at trial. If found guilty on all counts, he could face a cumulative maximum sentence far exceeding a lifetime in prison.
Related Federal Cases
- Kelley Gets 18 Months for Night Vision Export Scheme · Maryland
- Cesar Flores Sentenced to Ten Years for Bribery Scheme · Texas
- New Orleans Resident Pleads Guilty to Counterfeit Card Scheme · Texas
- Houston Couple Sentenced for RICO Employment Scheme · Texas
- Beaumont School Workers Guilty in Fraudulent Pay Scheme · Texas
Key Facts
- State: Texas
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
🔒 Get the grimiest stories delivered weekly. Subscribe free →
Browse More
