HONOLULU – Pablo M. Rivera, 41, a former Chief Financial Officer of the University of the Nations (UOFN), has today admitted to swindling his institution out of $3,096,241 in an elaborate wire fraud scheme that spanned three years.
Rivera, who resided in Honolulu, Hawaii, is set to be sentenced on August 28th by Judge Susan Oki Mollway. The financial officer stands to face a maximum sentence of 20 years imprisonment for his deception.
According to court documents and testimonies presented during the hearing, Rivera was entrusted with overseeing construction projects at UOFN’s Kailua-Kona campus. Instead, he concocted a fraudulent scheme involving false invoices from contractor KJ Walk, Inc., which he altered to inflate the actual costs of labor and materials.
UOFN paid these falsified invoices, unwittingly transferring funds into an account controlled by both KJ Walk and Rivera himself. The money was then siphoned out of this joint account by Rivera for personal gain.
‘Rivera’s betrayal of trust is a stark reminder of the lengths some will go to enrich themselves at the expense of educational institutions,’ said Elliot Enoki, Acting United States Attorney for the District of Hawaii. ‘The University of the Nations has been victimized by someone it trusted to manage its finances responsibly.’
The investigation into Rivera’s fraudulent activities was led by the Federal Bureau of Investigation, and the prosecution was handled by Assistant U.S. Attorney Michael Nammar.
As part of his plea agreement, Rivera has agreed to repay the University of the Nations the full $3,096,241 he stole.
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Key Facts
- State: Hawaii
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes|Public Corruption|White Collar Crime
- Source: Official Source ↗
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