A businessman from Pennsylvania is going to prison for stealing $3.5 million from a Morgantown construction company.
Michael D. Allen, 60, of Irwin, Pennsylvania, was sentenced to 46 months in prison today for stealing $3.5 million from Accelerated Construction Services.
Allen pled guilty in November to wire fraud and money laundering. He had been the manager of Accelerated Construction Services and admitted to using his position to divert $3.5 million in company funds for his own personal benefit.
The 60-year-old spent $154,000 on vehicles, including a 2020 Range Rover, a 1954 Chevrolet 3100 truck, and a classic car restoration. He purchased a 5.19 carat diamond ring for $113,250 and spent an estimated $19,000 on other jewelry, $18,000 of which was used to purchase a Breitling watch.
In addition to serving the prison sentence, Allen must pay $3.5 million in restitution to the company. The restitution order is one of the largest in recent history in the Northern District of West Virginia.
Assistant U.S. Attorney Jarod J. Douglas prosecuted the case on behalf of the government. The Internal Revenue Service Criminal Investigations and the Monongalia County Sheriff’s Office investigated, with the FBI assisting in the investigation.
Chief U.S. District Judge Thomas S. Kleeh presided over the case. The sentencing marks the culmination of a lengthy investigation into financial crimes in the region.
Related Federal Cases
- James Nelson, Heroin Trafficking and Money Laundering, Ohio 2023 · Pennsylvania
- Mike Stuart, Methamphetamine Trafficking, West Virginia 2024 · Pennsylvania
- Richard Lee Edgell, Methamphetamine Trafficking, West Virginia 2024 · Pennsylvania
- Matthew Swartz, Tax Evasion, West Virginia 2024 · Pennsylvania
- Derrick Woodard, Gun Trafficking, West Virginia 2024 · Pennsylvania
Key Facts
- State: West Virginia
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
ðŸâ€Â’ Get the grimiest stories delivered weekly. Subscribe free →
MORE FEDERAL CRIME NEWS
US NewsUS NewsUS NewsUS News