Friday, February 6, 2009

Update: Virginia Man Gets 5 1/2 Years For $3 Million Embezzlement

Jeffrey Scott Koger, 39, of Oak Hill, Virginia, who pleaded guilty last November to embezzling some $3 million from client accounts of Koger Management Group, a real estate management company for which he served as CFO, was sentenced to 5 1/2 years in prison today. He agreed to pay $1.25 million in restitution as well as $775,000 in unpaid taxes to the IRS. According to prosecutors, Koger spent more than $730,000 of the stolen funds to open a restaurant called Jordan's 8 in Washington, DC. He also reportedly spent another $475,000 to remodel his house in Herndon, VA, build a health club in Annandale, purchase a Corvette and purchase a house in New Mexico. Further, investigators said he and his friends went on lavish gambling junkets in Las Vegas. Koger still faces pending charges of attempted murder of a Virginia state trooper during a shootout when he was apprehended.

Read FraudTalk's original post on this story here.

Read the story here.

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