Cave Creek Man Sentenced to Prison for Bilking Employer of Nearly $500,000
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A Cave Creek man who bilked an Idaho-based company of nearly half a million dollars was sentenced this week to serve more than three years in prison.
U.S. District Court Judge B. Lynn Winmill handed down that punishment for Christopher L. Myers, 37, along with orders that Myers serve three years of supervised release, pay a $7,500 fine, and come up with $606,989 in restitution to ClickBank.
Most of that money is cash Myers stole while he worked as a comptroller for the financial company, which processes payments from consumers to retailers who are ClickBank clients.
Myers came up with a scheme to personally cash in checks that retailers were getting from ClickBank but weren't cashing right away.
As comptroller for ClickBank and its subsidiaries, Keynetics Inc., Myers was responsible for tracking those uncashed checks. Between April 2006 and November 2011, he transferred the same dollar amounts from some of those uncashed checks out of his employers' account and into his personal bank account, according to federal law enforcement officials.
Myers admitted he fraudulently wire-transferred the money on 26 different occasions, pleading guilty on August 22. The plea agreement noted that Myers used the money for personal purchases, investments, mortgage payments, and retirement accounts.
Myers' restitution payments also include the $157,346 ClickBank spent to conduct an internal investigation. The case was also investigated by the FBI and the Boise Police Department.