Tuesday, March 2, 2010

Minnesota Man Accused Of Misappropriates $6 Million In Fraudulent Billing Scheme

Chad Wilfred Jurgens, 38, of Big Lake, Minnesota, has been charged with misappropriating $6 million from Haas TCM, a Pennsylvania-based chemical supply company, where he was an account manager. Prosecutors allege that over more than a six year period, from January 2002 until March 2008, Jurgens submitted fraudulent invoices ostensibly for chemicals ordered by Seagate Technology, an account he managed. He has been charged with one count of wire fraud. Prosecutors allege Jurgens used a company set up by a friend, VR Services, into which payments were received. The friend, Vincent Reis, 37, of Mound, Minnesota, has not been charged in the case.

Read the story here.

Update (4/6/10): Jurgens pleaded guilty today to one count of wire fraud in connection with the embezzlement of some $6 million from Haas TCM.

Update (7/14/10): Jurgens, now 38, was sentenced to 63 months in prison and ordered to pay $6.3 million in restitution.

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