Home Boston Press Releases 2009 Former Waters Employee Charged with Fraud, Money Laundering
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Former Waters Employee Charged with Fraud, Money Laundering

U.S. Attorney’s Office October 13, 2009
  • District of Massachusetts (617) 748-3100

BOSTON, MA—A Mendon man was charged today in federal court with conspiracy to commit fraud and other crimes in connection with his alleged scheme to take specialized laboratory equipment from his employer and sell it for his own gain.

Acting United States Attorney Michael K. Loucks, Warren T. Bamford, Special Agent in Charge of the Federal Bureau of Investigation – Boston Field Division, Susan Dukes, Special Agent in Charge of the Internal Revenue Service, Criminal Investigation - Boston Field Office and Chief Thomas O’Loughlin of the Milford Police announced today that GLEN DIAS, age 50, of Mendon, Massachusetts, was charged in a forty-count Indictment with conspiracy, mail fraud, wire fraud and money laundering.

The Indictment alleges that DIAS worked for Waters Corporation (“Waters”) in Milford, Massachusetts from 1981 through 2007. Waters is an international company that manufactures and services laboratory analytical equipment. According to the Indictment, from in or about 1998 through in or about 2007, DIAS knowingly and intentionally defrauded Waters by taking equipment from the Waters plant and selling that equipment to buyers across the United States, including buyers in Illinois and Texas, for his own personal gain.

DIAS engaged in this scheme with the help of others, ncluding RICHARD PANORESE of Milford, Massachusetts, who pled guilty today to conspiracy to commit mail fraud, wire fraud and money laundering in connection with his part in the unlawful sale of Waters equipment. The Indictment also seeks forfeiture of property DIAS purchased with proceeds of the alleged scheme, ncluding a pleasure boat and a second home on Cape Cod.

On each of the 27 mail and wire fraud charges, DIAS faces up to 20 years imprisonment, 3 years of supervised release and a fine of up to $250,000. On the conspiracy charge, DIAS faces up to 5 years imprisonment, 3 years of supervised release, and a fine of up to $250,000. On each of the 12 money laundering charges, DIAS faces up to 10 years imprisonment, 3 years of supervised release and a fine of up to $250,000, or twice the gain he realized as a result of his alleged crimes. DIAS may also be ordered to pay restitution and forfeit assets purchased with the proceeds of his alleged criminal activity.

The case was investigated by the Milford Police Department, the Federal Bureau of Investigation and Internal Revenue Service. The case is being prosecuted by Assistant U.S. Attorney Karin M. Bell of Loucks’ Worcester Branch Office.

The details contained in the Indictment are allegations. The defendant is presumed to be innocent unless and until proven guilty beyond a reasonable doubt in a court of law.

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