Matthew Lewis Udy, Theft, Idaho 2015

Idaho Man Accused of Stealing $280,000 from Employer

Matthew Lewis Udy, a 45-year-old business and financial manager from Idaho Falls, Idaho, has been accused of stealing over $280,000 from his employer between April 2011 and September 2013.

According to U.S. Attorney Wendy J. Olson, Udy was hired in December 2009 to manage his employer's personal investments, rental properties, and other financial matters. However, rather than using his position for the benefit of his employer, Udy used his access to steal hundreds of thousands of dollars.

Udy admitted to stealing $150,346.52 from his employer's rental properties and using five credit card accounts belonging to his employer to make unauthorized personal purchases. He used the accounts to receive payments and other things of value, including gift cards and hotel rooms.

The defendant used a clever tactic to disguise the fraudulent transactions, mirroring legitimate transactions and only paying the accounts with his employer's funds. This allowed him to keep the stolen money without arousing suspicion.

Udy pleaded guilty to one count of unauthorized use of an access device, a charge that carries a maximum sentence of 15 years in prison, a maximum fine of $250,000, and up to three years of supervised release.

Sentencing is set for February 17, 2015, before U.S. District Judge Edward J. Lodge at the federal courthouse in Pocatello. The case was investigated by the United States Secret Service and the Idaho Falls Police Department.

In total, Udy stole $280,346.52 from his employer, with $150,346.52 being taken from rental properties and $130,189 being obtained through unauthorized credit card transactions. His actions are a reminder of the importance of trust and accountability in the workplace.

Source: https://www.justice.gov/usao-id/pr/eastern-idaho-man-pleads-guilty-stealing-over-280000-his-employer