Charges: Kentucky man created fake company to steal $200K from his employer
A Kentucky man used a fake company to steal nearly $200,000 from his employer, according to a federal grand jury indictment.
The grand jury indicted Michael Eric Malone Thursday on multiple charges of wire fraud and money laundering.
Malone worked at Camco Chemical Company in Boone County between July 2021 and January 2024 and had a company credit card for purchases, according to the indictment.
Malone allegedly used the company card for personal purchases and created fake invoices to cover the fraudulent charges, according to the indictment.
In September 2023, for instance, Malone used the company credit card to buy a $527 vacuum on Amazon and submitted a fraudulent invoice to the company that said the product was disposable masks for the business, the indictment alleges.
Malone is also accused of setting up a fake company and using the credit card to pay $198,678 for falsified products or services.
The indictment cited several examples, including one in October 2023 when Malone allegedly used the credit card to pay the fake company $7,968 and submitted an invoice that said the money was for safety gates.
Malone transferred money from the fake company’s account to his personal account, according to the indictment.
If Malone is convicted, the indictment seeks a payment of at least $217,866, representing the amount he allegedly stole.
The wire fraud and money laundering charges are punishable by up to 20 years in prison.
