A former accounting manager at air conditioning maker Carrier Corporation was sentenced to 12 months in prison for his role in an insider embezzlement scheme.
Ryan King, 44, of Indianapolis, was sentenced Wednesday by U. S. District Judge Sarah Evans Barker. King worked as an accounting manager at Carrier, a subsidiary of United Technologies, from June 2103 through April 2014. His job involved overseeing Carrier’s financial transactions, including cost accounting, hourly payroll and preparation of financial statements among other duties.
In June 2013, King opened a personal checking account in the name of “Carrier Services.” He then instructed different vendors who owed money to the company to Carrier to send the payments in the form of checks made out to Carrier Services. When King received the checks he diverted the money, depositing the checks into his personal account. He also faxed inflated invoices to several vendors, asking them to wire the overpayment to his personal account. A total of $1,095,201 was diverted to his personal account.
“White collar criminals steal through position and influence but are thieves just the same,” U.S. Attorney for the Southern District of Indiana Josh J. Minkler said in a statement. “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.”
Prosecutors recovered over $500,000 from various savings and investment accounts and assets owned by King. The money and assets will be applied toward the $1,233,343.80 in restitution ordered by the court.
In addition to 12 months in prison, King was sentenced to six months of home detention during the two years of supervised release that will start when he is released from prison.