Former Carrier accounting manager sentenced in embezzlement scheme
3:59 PM, Mar 9, 2016
7:37 PM, Mar 9, 2016
INDIANAPOLIS -- A former accounting manager at Carrier was sentenced Wednesday for his alleged role in an insider embezzlement scheme.
Ryan King, 44, of Indianapolis, was sentenced to 12 months in federal prison by U.S. District Judge Sarah Evans Barker, according to a press release from United States Attorney Josh J. Minkler.
"White collar criminals steal through position and influence but are thieves just the same,” Minkler said in a press release.
“Those who choose to commit this type of crime will be held accountable through the partnership of government and private industry to root out crime in whatever form.”
King was employed by Carrier as an accounting manager from June 2013 to April 2014. He was responsible for Carrier's financial transactions including cost accounting, hourly payroll and preparation of financial statements among other duties, according to the release.
In June 2013, he opened a personal checking account in the name of Carrier Services. He then allegedly told various vendors to make payments owed in the form of checks made out to Carrier Services. When King received the checks, he diverted the money by depositing the checks into his personal account.
King also sent inflated invoices to several vendors, according to the press release. He then allegedly told vendors to wire the over payment to his personal account. In total, $1,095,201 was diverted to his personal account.
The government recovered over $500,000 from various savings and investment accounts and assets owned by King. That money and assets will be applied toward the $1,233,343.90 in restitution ordered by the court.
The case was investigated by the FBI. King was also sentenced to 6 months of home detention during his two years of supervised release.
Last month, Carrier announced plans to relocate 1,400 jobs from Indianapolis to Mexico.