Indian-American sentenced for stealing $484,000 from employer in Texas
Kiran Andhavarapu stole from his employer in the US by opening bank accounts in the name of ‘EProduction Solutions’ and listed himself as the owner and sole proprietor of the business.india Updated: Apr 29, 2017 20:22 IST
A 45-year-old Indian-American has been sentenced to 20 months in prison for defrauding a bank and stealing more than $484,000 from his employer.
Kiran Andhavarapu pleaded guilty on February 9 and was sentenced on Thursday, according to a statement by the US the US attorney for the Southern District of Texas.
Andhavarapu, who was living in Conroe in Texas, was sentenced to 20 months in prison and 3 years of supervised release for stealing more than $484,000 from Weatherford and its subsidiary EProduction Solutions.
The FBI conducted the investigation.
US district judge Keith P Ellison, who accepted the guilty plea, said Andhavarapu abused a position of trust as a financial controller which facilitated his commission of the crime.
He stole from his employer by opening bank accounts in the name of ‘EProduction Solutions’ and listed himself as the owner and sole proprietor of the business.
Andhavarapu then stole refund cheques made out to and belonging to his employer and deposited them in the accounts he had created.
As part of his plea, Andhavarapu admitted he stole a total of $484,873.
He will remain in custody pending transfer to a US Bureau of Prisons facility to be determined at a later date, the statement said.
First Published: Apr 29, 2017 10:53 IST