Delaware Man Charged with Investment Fraud
Kevin N. Boardman, 45, of Wilmington, DE, was charged by indictment, filed on June 26, 2014, with multiple counts of mail fraud, announced United States Attorney Zane David Memeger. Boardman is a pilot who served as Director of Aviation and Chief Pilot at a family-owned investment management company (“Company A”), in its Aviation Department located in Delaware County. It is alleged that between 2006 and 2013, Boardman devised numerous methods to embezzle money from his employer, eventually stealing over $2.7 million from Company A.
The indictment alleges that among his methods to steal from his employer was a false invoicing scam. Boardman allegedly established two companies, Optical Axes, Inc. (“Optical Axes”) and Airside Monitor LLC (“Airside”), which were front companies that supplied no goods and provided no services. Optical Axes purportedly operated from Lakewood, New York, and Airside from Dover and Wilmington, Delaware. The indictment alleges that Boardman caused approximately 50 invoices from these front companies to be issued to Company A, which paid the invoices by mailing checks to the phony business addresses.
If convicted, the defendant faces a maximum possible sentence of 20 years of imprisonment on each of the ten counts in the indictment, threeyears of supervised release, a $2.5 million fine, a $1,000 special assessment, and criminal forfeiture.
The case was investigated by the Federal Bureau of Investigation and is being prosecuted by Assistant United States Attorney Nancy E. Potts.
An Indictment is an accusation. A defendant is presumed innocent unless and until proven guilty.