Former financial controller admits embezzling nearly half a million dollars from family business in San Diego | USAO-SDCA

SUMMARY OF THE PRESS RELEASE – July 21, 2021

SAN DIEGO – Derick Jonathan Cameron of Vancouver, Washington, today pleaded guilty to wire fraud in federal court and admitted that he misappropriated more than $ 400,000 while serving as the financial controller of the San Diego-based RAL Investment Corporation.

In a hearing before U.S. judge Jill L. Burkhardt, Cameron admitted he had misused his access to the company’s accounting software and issued more than 200 unauthorized checks to himself with the electronic signature of the company’s CFO and deposited it in his personal bank account to have. He then disguised the payments by tampering with the company’s accounting records to create the appearance that each check was made out to a legitimate third party for a business expense. The company discovered Cameron’s fraudulent activity in April 2018, fired Cameron and reported the conduct to law enforcement when Cameron failed to make his promised repayments on time.

“The impact of fraud on small businesses can be devastating,” said acting US attorney Randy Grossman. “This defendant has abused his trust to enrich himself and has been held responsible for his crime.” Grossman commended U.S. Assistant Attorney Rebecca Kanter and the FBI case agents for their work handling this case.

“Mr. Cameron treated his job as financial controller like his own personal expense account because he thought he made more money,” said FBI agent Suzanne Turner. “His actions are jeopardizing the very existence of the company and hopefully today’s admission of guilt brings that In this case, sacrifice a sense of justice and closure. ”

Cameron is due to be tried in U.S. District Judge Todd W. Robinson on October 18, 2021 at 9:30 a.m.

ACCUSED File Number 21cr2128-TWR

Derick Jonathan Cameron Age: 37 Vancouver, Washington

SUMMARY OF CHARGES

Wire Fraud – Title 18, USC, Section 1343

Maximum Penalty: Twenty years in prison and a $ 250,000 fine or double profit / loss, whichever is greater

AGENCY

Federal Office for Investigations