Ryan King, Embezzlement, Indiana 2018

Indianapolis, Indiana – A former accounting manager at Carrier Corporation was sentenced to 12 months in federal prison for his role in an insider embezzlement scheme.

Ryan King, 44, of Indianapolis, was employed by Carrier as an accounting manager from June 2013 through April 2014. He was entrusted to oversee Carrier’s financial transactions, including cost accounting, hourly payroll, and preparation of financial statements.

According to the U.S. Attorney Josh J. Minkler, King was involved in an insider embezzlement scheme, where he stole $1,095,201 from Carrier Corporation. He did this by opening a personal checking account in the name of ‘Carrier Services’ and instructed various vendors to make payments owed in the form of checks made out to Carrier Services.

King then diverted the money by depositing the checks into his personal account. He also sent inflated invoices to several vendors by facsimile transmissions and instructed them to wire the overpayment to his personal account.

The government recovered over $500,000 from various savings and investment accounts and assets owned by King. These monies and assets will be applied toward the $1,233,343.80 in restitution ordered by the Court. King was also sentenced to 6 months of home detention during his two years of supervised release that will commence upon his release from the Bureau of Prisons.

The case was investigated by the Federal Bureau of Investigation. Assistant United States Attorney Cynthia J. Ridgeway prosecuted the case for the government.

The U.S. Attorney’s Office for the Southern District of Indiana emphasizes that white-collar criminals will be held accountable through the partnership of government and private industry to root out crime in whatever form.

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