Vermont Man Pleads Guilty to Theft
In a shocking case of embezzlement, David Cote, 44, of Essex Junction, has pleaded guilty to access device fraud. The Office of the United States Attorney for the District of Vermont announced that Cote pleaded guilty on January 28, 2015, in United States District Court in Brattleboro.
Cote, who was employed as the parts manager at Freedom Nissan in South Burlington, was responsible for ordering parts and accessories for use in the business. However, he defrauded Freedom Nissan of thousands of dollars by ordering parts and accessories from vendors on e-Bay, paying for them with the company credit card, and then selling the parts and accessories in private sales, pocketing the proceeds without reimbursing Freedom Nissan.
The United States Attorney filed a criminal information charging Cote with access device fraud on January 13, 2015. According to the information, Cote’s scheme took place from about 2009 until his firing in 2012. As parts manager, Cote was authorized to use the company credit card to purchase parts and accessories, but he abused this privilege to further his own financial interests.
Cote faces up to ten years of imprisonment and a fine of up to $250,000. The actual sentence will be determined with reference to federal sentencing guidelines. His sentencing is set for May 19.
The case was investigated by the South Burlington Police Department and the Federal Bureau of Investigation. Cote is represented by Richard Goldsborough, and the prosecutor is Assistant U.S. Attorney Gregory Waples.
This case highlights the importance of internal controls and oversight in preventing embezzlement and other forms of financial misconduct. It also underscores the need for vigilant law enforcement and prosecution to hold individuals accountable for their crimes.
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Key Facts
- State: Vermont
- Category: White Collar Crime|Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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