A former senior accountant for a construction company in Chicago was indicted Aug. 12 on fraud charges for allegedly embezzling millions in company funds.
The indictment charged Richard Mandarino, 43, of Scarborough, Ontario, with three counts of wire fraud. His arraignment in U.S. District Court in Chicago has not yet been scheduled.
A press release from the U.S. Attorney’s Office for the Northern District of Illinois says Mandarino committed the alleged fraud from 2015 to 2017 while he lived in Canada and worked on the unnamed construction company’s Canadian business projects. The indictment alleges that Mandarino fraudulently embezzled and obtained more than 2 million Canadian dollars.
According to Mandarino’s LinkedIn profile, he worked as a senior project accountant for the Walsh Group from November 2010 until November 2017. The Walsh Group, which has been in the construction business since 1898, is headquartered in Chicago and has an office in Toronto.
Mandarino allegedly entered false payment requests in the construction company’s accounting system, causing checks to be issued to vendor companies for goods and services that Mandarino knew were never provided, according to the indictment. He then converted those payments for his and others’ personal use. Mandarino allegedly concealed the thefts by creating fictitious credits and offsets in the construction company’s accounting system.
If convicted, Mandarino faces up to 20 years in federal prison for each wire fraud count.