Friday, November 5, 2010

Florida Man Pleads Guilty To $1.9 Million Embezzlement Scheme

Owen R. Galvin, 40, of Lakewood Ranch, Florida, pleaded guilty to charges he conspired with two other accomplices to embezzle more than $1.9 million from Outback Steakhouse’s corporate parent, OSI/PropCo. where he had been employed in the finance department. According to prosecutors, Galvin, together with Mark T. Watson and Jeremy David Schweickert, 29, doctored invoices and created fraudulent phony invoices over a nine month period from August 2009 to March 2010. Schweickert reportedly created a company, Valuation Research Consulting, which is very similar in name to an existing legitimate vendor, and set up a bank account into which the doctored invoices were deposited. Both Watson and Schweickert have already plead guilty for their part in the scheme. Schweickert reportedly has had substance abuse problems and a prior criminal issues. Galvin, who entered into a plea agreement to plead guilty to conspiracy to commit wire fraud last week, faces up to 20 years in prison, plus fines and restitution.

Read the story here, here, here and here.

Update (12/3/10): Schweickert was sentenced to 27 months in prison for his role in this $1.9 million Outback Steakhouse embezzlement scheme.

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