A former Clovis CPA has admitted in court to stealing over $800,000 from a bank.
The big picture: Kenneth Gould, 68, pleaded guilty in federal court to bank larceny for stealing more than $800,000.
- Gould operated a payroll services company in Clovis and from October 2017 through March 2018, he initiated several fraudulent electronic payments from a clients’ account to his company’s account at the bank.
- He then withdrew the money in cashier’s checks while the payments were pending.
- The bank attempted to recover its money but was too late after it had credited the fraudulent payments to Gould’s accounts.
Go deeper: Court documents state that Gould gave the stolen money, which totaled around $830,000, to the client that he initiated the fraudulent payments from.
- Gould had loaned the client money and was hoping the client would pay him back, but the client gambled all of the money away.
What we’re watching: Gould will be sentenced on June 2 by U.S. District Judge Jennifer Thurston.
- He faces a maximum of 10 years in prison and a $250,000 fine.
