Yi He, Embezzlement, Ohio 2023

A Central Ohio man has been sentenced to 5 years in prison for embezzling more than $26 million from his employer, a furniture company in Columbus, Ohio.

Yi He, 36, of Powell, was sentenced to 60 months in prison after pleading guilty to committing wire fraud and filing a false tax return in August 2023.

According to court documents, He was a long-time and trusted employee of the furniture company, which provides furniture to retailers like Wayfair, Overstock, Kohls, Walmart, and Ashley.

He was solely responsible for payroll and payroll tax-related duties for the company. From 2018 until 2022, He embezzled money from the company’s bank account into his own personal and financial investment accounts.

He submitted false and fraudulent bank and financial statements to the company’s leadership to remain undetected. In total, He stole $26.5 million from the company.

He also failed to accurately report his income to the IRS for tax years 2018 through 2021, causing a total tax loss of approximately $6.8 million.

As part of his sentence, He will pay restitution to his former employer and to the IRS, and he will forfeit a Tesla vehicle.

United States Attorney Kenneth L. Parker and Acting Special Agent in Charge Karen Wingerd announced the sentence imposed today by U.S. District Judge Sarah D. Morrison.

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