Lies, Laundering, and Looting
July 26, 2011
A prison cell—not a penthouse—is now the home of a former CEO who embezzled money from his company for a down payment on luxury living quarters.
Mollie Halpern: A prison cell—not a penthouse—is now the home of a former CEO who embezzled money from his company for a down payment on luxury living quarters.
Spencer B. Walker: He became more concerned with financing his exorbitant lifestyle than with actually doing right by his investors.
Halpern: I’m Mollie Halpern of the FBI, and this is “Gotcha.” Mark Phillips, of Seattle, laundered $1.6 million from start-up technology company MOD Systems, Inc. FBI Forensic Accountant Gwynne Laurente…
Gwynne E. Laurente: I was able to identify and trace fund transfers that showed that he was using company funds for his personal purchases.
Halpern: Special Agent Spencer Walker says the money trail was long…
Walker: He wired the money to his personal attorney’s trust fund and then asked his attorney to wire it to his girlfriend and then directed his girlfriend to purchase the items.
Halpern: Items including two $30,000 designer wrist watches.
Walker: To conceal those transfers, he doctored invoices.
Halpern: This has been the FBI’s closed case of the week.
- 08.17.2017 — FBI, This Week: Bureau Trains with Partners on Indian Country Crime
- 08.10.2017 — Inside the FBI: Internet-Connected Toys Pose Security Risks
- 08.10.2017 — FBI, This Week: Internet-Connected Toys Pose Security Risks
- 08.03.2017 — FBI, This Week: Christopher Wray Sworn In as FBI Director
- 07.27.2017 — FBI, This Week: One-Year Anniversary of Prescription Drug Initiative