Man Sentenced for Embezzling $3 Million from Employer

February 6, 2020 / Source: FDICOIG

FOR IMMEDIATE RELEASE

Friday, January 31, 2020

Man Sentenced for Embezzling $3 Million from Employer

ALEXANDRIA, Va. – A Maryland man was sentenced today to 30 months in prison for embezzling over $3.2 million from his employer.

According to court documents, Reginald Zayas, 49, of Upper Marlboro, was the Controller at a Virginia-based company. Over the course of almost four years, Zayas embezzled over $3.2 million from the company by unlawfully transferring funds from the company’s bank account to his own bank account, and he then often transferred the money from his account to others. Zayas transferred over $300,000 to accounts controlled by his wife, his girlfriend, and the mother of one of his children.

Zayas used the laundered money to pay for his own personal expenses, including exorbitant credit card bills, car payments, dining expenses and entertainment, and private school tuition.

In addition to the prison sentence, Zayas was also ordered to pay full restitution and forfeiture.

G. Zachary Terwilliger, U.S. Attorney for the Eastern District of Virginia; Timothy M. Dunham, Special Agent in Charge, Criminal Division, FBI Washington Field Office; and Jay N. Lerner, Inspector General of the Federal Deposit Insurance Corporation (FDIC-OIG), made the announcement after sentencing by Senior U.S. District Judge Claude M. Hilton. Assistant U.S. Attorneys Cristina Stam and William Fitzpatrick are prosecuting the case.

A copy of this press release is located on the website of the U.S. Attorney’s Office for the Eastern District of Virginia. Related court documents and information are located on the website of the District Court for the Eastern District of Virginia or on PACER by searching for Case No. 1:19-cr-297.

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