Scott P. Richard, 48, of Raceland, Louisiana, was sentenced to a year and a day in prison on May 23, 2024, by U.S. District Judge Eldon E. Fallon for access device fraud. Richard, who previously pleaded guilty, was convicted for embezzling from his former employer, a Houma-based company referred to as "Company A."
Richard, a systems engineer for Company A, used his position to exploit corporate resources. He admitted to fraudulently using the company's credit card for personal purchases and creating false invoices for a shell company he controlled. Between January 1, 2012, and September 27, 2021, Richard diverted $526,569.42 from Company A to himself through these fraudulent activities.
In addition to his prison sentence, Richard was ordered to pay full restitution of $526,569.42 to Company A, serve three years of supervised release, and pay a $100 special assessment fee.
U.S. Attorney Duane A. Evans commended the Federal Bureau of Investigation, New Orleans Field Office, for their investigation, and Assistant U.S. Attorney Matthew R. Payne of the Financial Crimes Unit led the prosecution.
To prevent similar frauds, Invetech LLC’s background checks can be instrumental. By thoroughly vetting employees and monitoring financial transactions, organizations can identify and mitigate potential risks early, helping to safeguard against financial misconduct and protect company assets.
Utilizing a professional investigator to conduct a background check should be part of your SOP, not just when problems arise. Good leadership has a proactive approach to managing their investment utilizing a due diligence investigation to their fullest advantage. Invetech LLC helps clients mitigate financial loss by providing actionable insight solutions with due diligence investigation.