Department of Justice
U.S. Attorney’s Office
Southern District of Indiana
FOR IMMEDIATE RELEASE
Wednesday, March 9, 2016
Accounting manager sentenced in embezzlement scheme
Over $1 million stolen from Carrier Air Conditioning Company
Indianapolis –United States Attorney Josh J. Minkler announced today that a former accounting manager at Carrier Corporation (Carrier), a subsidiary of United Technologies Carrier (UTC), was sentenced for his role in an insider embezzlement scheme. Ryan King, 44, Indianapolis, was sentenced to 12 months in federal prison by U. S. District Judge Sarah Evans Barker.
“White collar criminals steal through position and influence but are thieves just the same,” said Minkler. “Those who choose to commit this type of crime will be held accountable through the partnership of government and private industry to root out crime in whatever form.”
King was employed by Carrier as an accounting manager from June 2103 through April 2014. He was entrusted to oversee Carrier’s financial transactions including cost accounting, hourly payroll and preparation of financial statements among other duties.
In June 2013, King opened a personal checking account in the name of “Carrier Services.” He then instructed various vendors to make payments owed in the form of checks made out to Carrier Services. When King received the checks he diverted the money by depositing the checks into his personal account. Further, King sent inflated invoices to several vendors by facsimile transmissions. He then instructed the vendors to wire the over payment to his personal account. In total, $1,095,201 was diverted to his personal account.
Pre-charge, the government recovered over $500,000 from various savings and investment accounts and assets owned by King. These monies and assets will be applied toward the $1,233,343.80 in restitution ordered by the Court.
This case was investigated by the Federal Bureau of Investigation.
According to Assistant United States Attorney Cynthia J. Ridgeway who prosecuted this case for the government, King was also sentenced to 6 months of home detention during his two years of supervised release that will commence upon his release from the Bureau of Prisons.