A Fresno man pleaded guilty in federal court on Wednesday to wire fraud worth nearly $1.5 million.
Gabriel Ruiz De Chavez, 46, defrauded his employer of over $1.49 million, according to federal prosecutors.
The big picture: Court documents state that Ruiz De Chavez worked as an operations manager from 2004 to 2020.
- From 2012 to 2019 he used his position to generate fake invoices that were purportedly created by genuine vendors for goods and services.
- Ruiz De Chavez presented the fake invoices and corresponding checks made out to the real vendors to his employer for signature and would deposit the checks into his own personal bank account.
- He used the funds to pay for personal expenses, including credit card payments, cash withdrawals, mortgage payments, vacations and car loans.
- He was able to continue the scheme for several years because he was a trusted employee.
By the numbers: Ruiz De Chavez had created over 600 fake invoices and checks as part of the scheme, causing at least $1,491,000 to be transferred from his employer to his account.
What we’re watching: Ruiz De Chavez will be sentenced on Nov. 6.
- He faces a maximum of 20 years in prison and a $250,000 fine.
