ROCHESTER, N.Y. - U.S. Attorney James P. Kennedy, Jr.
announced today that James Walton, 48, formerly of Webster, NY, pleaded guilty
before U.S. District Judge Elizabeth A. Wolford to bank fraud. The charge
carries maximum penalty of 30 years in prison and a $1,000,000 fine.
Assistant U.S. Attorney John J. Field, who is handling the
case, stated that Walton worked in the finance department of a local real
estate business that owned and operated numerous apartments and mobile home
parks. In that capacity, the defendant was responsible for processing security
deposits and security deposit refunds for tenants. Between 2011 and 2014,
Walton took advantage of his position to embezzle security deposit refunds
payable to tenants of the business. In total, he stole approximately $53,786.98
from the business.
The plea is the result of an investigation by Special Agents
with the Rochester Office of the Federal Bureau of Investigation, under the
direction of Special Agent-in-Charge Gary Loeffert.
Sentencing is scheduled for December 6, 2019, at 3:00 p.m.
before Judge Wolford.
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