Salt Lake Metropolis, Utah – A federal grand jury in Salt Lake Metropolis, Utah returned an indictment March 1, 2023, charging a Utah man with allegedly planning and executing a scheme to steal cash from two Utah constitution colleges for his personal private achieve and the advantage of his household, together with paying for beauty surgical procedures for his spouse.
In line with courtroom paperwork, Cole Arnold, 39, of Kaysville, Utah, was an accountant for Academica West Providers, which supplies providers for constitution college enterprise operations. Arnold supplied monetary providers to a number of constitution colleges in Utah, together with North Davis Preparatory Academy and Ascent Academies. Starting in August 2017 and persevering with by June 2022, Arnold used his place at Academica West Providers to allegedly steal $2,563,348.23 from North Davis Preparatory and Ascent Academies. In line with the indictment, Arnold’s fraudulent exercise included: creating false invoices, payments and bank card statements claiming charges for varsity provides, instructor salaries, and different fictitious line-item bills, for the aim of producing funds to bank cards managed by himself; creating false pc journal entries claiming a wide range of college associated bills; passing fraudulently obtained cash by Venmo and a checking account within the title of Higher Restrict Innovation, a registered Utah enterprise that Arnold was a co-owner and registered agent of, to switch the fraudulently obtained cash. The stolen constitution college funds have been utilized by Cole for journey, concert events, beauty surgical procedures, residence enhancements, jewellery, furnishings, electronics, and different private bills.
Arnold is charged with 10 counts of wire fraud, and 5 counts of cash laundering. The defendant is scheduled for his preliminary courtroom look March 30, 2023, at 1:00 p.m. in courtroom 8.4 earlier than a U.S. Justice of the Peace Choose on the Orrin G. Hatch United States District Courthouse in Salt Lake Metropolis, Utah.
U.S. Legal professional Trina A. Higgins for the District of Utah made the announcement.
The case is being investigated by the FBI Salt Lake Monetary Crimes Job Pressure, which incorporates IRS-CI, Layton Police Division and the FBI.
Assistant U.S. Legal professional, Jennifer Ok. Muyskens, for the District of Utah is prosecuting the case.
An indictment is merely an allegation and all defendants are presumed harmless till confirmed responsible past an inexpensive doubt in a courtroom of regulation.
