Virginia Man Pleads Guilty To Embezzling More Than $400K From Transport Company

Woodbridge Man, John Coston, Pleads Guilty To Embezzlement of $400,000

2:35 PM, Apr 4, 2013

 

ALEXANDRIA, Va. (WUSA9) - Government officials announced that Woodbridge resident John Coston, 48, pleaded guilty to embezzlement of more than $400,000 from Diamond Transportation Services (DTS) and for failing to report the additional income on his taxes.

 

According to officials, Coston worked at DTS in Springfield, Va. as an operations manager. Officials say Coston handled payroll disbursements through the company's online payroll processing system.

Coston admitted that from January 2010 through December 2011 he took former employees' information to funnel payroll funds into bank accounts that Coston controlled.

 

Reports say that when Coston filed for taxes in 2010 and 2011 he claimed to have received more than $63,000 in wages each year. However, Coston received $120,000 and 325,000 in 2010 and 2011 respectively from the embezzlement scheme.

 

Sentencing is scheduled for July 19, 2013.

 

From wusa9.com