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In exchange for consideration at his sentencing, Nestor Charriez, 60, pleaded guilty Monday in U.S. District Court to defrauding Harrison Scott Publications by embezzling the money for his personal use.
Harrison Scott produces newsletters about real estate, hedge funds, commercial mortgages and other business-related topics.
Charriez worked as a controller for the company for several years, according to Bloomberg.
Federal authorities said he oversaw payroll.
Charriez embezzled the money over two decades by directing an outside payroll vendor to issue unauthorized “bonus” payments to himself “hundreds of thousands of dollars at a time,” U.S. Attorney Craig Carpenito said.
Carpenito credited special agents of the FBI with the investigation leading to the guilty plea, secured by Assistant U.S. Attorney Heather Suchorsky of his Economic Crimes Unit.
U.S. District Judge Kevin McNulty scheduled sentencing for May 11.
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