Caller.com
Three sentenced in embezzlement scheme targeting Sherwin Alumina Co.
Edited by : AL CIRCLE
1 min read
Three men were sentenced in federal court Monday in a 2007 embezzlement scheme targeting Sherwin Alumina Co.
Richard Lopez, 43, Benjamin Martinez, 74, and Toby Clarkson, 39, each pleaded guilty to one count of money laundering in October.
Lopez was sentenced to one year, three months and Martinez and Clarkson were each sentenced to nine months in prison by U.S. District Judge Nelva Gonzales Ramos.
An investigation began after the company learned that Lopez, a warehouse manager for Sherwin Alumina, colluded with two of the company's vendors, Martinez and Clarkson to mail payments for materials that were never delivered.
The three were indicted in September for 14 money laundering transactions, each more than $10,000, between February and November 2007.
Before sentencing, John Vasquez, administrative director of the company, told the court Lopez was the conspirator in the scheme, but all three defendants abused their position of trust with the company.
"All are guilty on far more counts then they pleaded," he said.
The defendants have paid restitution of more than $285,000 to Sherwin Alumina.
Richard Lopez, 43, Benjamin Martinez, 74, and Toby Clarkson, 39, each pleaded guilty to one count of money laundering in October.
Lopez was sentenced to one year, three months and Martinez and Clarkson were each sentenced to nine months in prison by U.S. District Judge Nelva Gonzales Ramos.
An investigation began after the company learned that Lopez, a warehouse manager for Sherwin Alumina, colluded with two of the company's vendors, Martinez and Clarkson to mail payments for materials that were never delivered.
The three were indicted in September for 14 money laundering transactions, each more than $10,000, between February and November 2007.
Before sentencing, John Vasquez, administrative director of the company, told the court Lopez was the conspirator in the scheme, but all three defendants abused their position of trust with the company.
"All are guilty on far more counts then they pleaded," he said.
The defendants have paid restitution of more than $285,000 to Sherwin Alumina.
Tagged with:Aluminium
Previous article
Vietinbank to loan US$100 million for mining
Next articleVendanta to meet MoEF officials regarding Orissa refinery
Grow with
AL Circle
