{"id":51708,"date":"2026-09-23T16:55:40","date_gmt":"2026-09-23T16:55:40","guid":{"rendered":"https:\/\/cryptomag.finance\/?p=51708"},"modified":"2026-09-23T16:55:40","modified_gmt":"2026-09-23T16:55:40","slug":"alabama-company-loses-nearly-191000-after-accounting-manager-diverts-funds-splurges-on-personal-expenses-and-a-luxury-car","status":"publish","type":"post","link":"https:\/\/cryptomag.finance\/?p=51708","title":{"rendered":"Alabama Company Loses Nearly $191,000 After Accounting Manager Diverts Funds, Splurges on Personal Expenses and a Luxury Car"},"content":{"rendered":"

\"\"<\/p>\n

An Alabama company has lost nearly $191,000 after its accounting manager diverted funds through unauthorized payments and personal spending.<\/p>\n

Andrew W. Volkoff, who managed accounting at the Bessemer-based firm, entered a plea agreement in federal court, reports<\/a> WBRC.<\/p>\n

Prosecutors say he issued himself 12 unauthorized payments from the company payroll account and labeled them as expense reimbursements, miscellaneous reimbursements, or commissions, even though Volkoff did not hold a commission-based role.<\/p>\n

Those payouts totaled $27,992.15 and sat outside the firm\u2019s regular pay cycles.<\/p>\n

He also ran $162,932.42 in personal charges on a company American Express card between January 2023 and June 2025, including a down payment on a 2011 Mercedes-Benz and transfers through PayPal and Venmo.<\/p>\n

Combined, the unauthorized activity cost the employer $190,924.57 over about two and a half years.<\/p>\n

Court filings name the business only as Business #1.<\/p>\n

A June 5th, 2025 direct deposit of $4,323.43 is the specific wire behind Volkoff\u2019s single wire fraud count.<\/p>\n

Volkoff told investigators in June 2025 that money problems drove the scheme and use the firm\u2019s credit card to enrich himself unjustly.<\/p>\n

A guilty plea on the charge carries up to 20 years in prison, a fine of up to $250,000, and as much as three years of supervised release.<\/p>\n

No sentencing date has been set in the Northern District of Alabama case.<\/p>\n

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The post Alabama Company Loses Nearly $191,000 After Accounting Manager Diverts Funds, Splurges on Personal Expenses and a Luxury Car<\/a> appeared first on The Daily Hodl<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

An Alabama company has lost nearly $191,000 after its accounting manager diverted funds through unauthorized payments and personal spending. Andrew W. Volkoff, who managed accounting at the Bessemer-based firm, entered a plea agreement in federal court, reports WBRC. Prosecutors say he issued himself 12 unauthorized payments from the company payroll account and labeled them as […]<\/p>\n","protected":false},"author":1,"featured_media":51709,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-51708","post","type-post","status-publish","format-standard","has-post-thumbnail"],"yoast_head":"\nAlabama Company Loses Nearly $191,000 After Accounting Manager Diverts Funds, Splurges on Personal Expenses and a Luxury Car - Cryptomag<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptomag.finance\/?p=51708\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alabama Company Loses Nearly $191,000 After Accounting Manager Diverts Funds, Splurges on Personal Expenses and a Luxury Car - Cryptomag\" \/>\n<meta property=\"og:description\" content=\"An Alabama company has lost nearly $191,000 after its accounting manager diverted funds through unauthorized payments and personal spending. 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