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Police arrest man accused of embezzlement on traffic stop

Upon arresting an Atlanta man on a traffic stop in Georgia, police realized that he was the man accused of embezzling millions of dollars who had been missing for some time.

The accused owned a controlling interest in a company that bought a bank and trust in Georgia. Following this, he became the director of the establishment and in 2011, he became in charge of investing the bank's capital. Allegedly, he wired the bank's money into his own accounts at various other institutions. He was indicted in 2012 and is suspected of embezzling around $21 million from the bank.

Authorities allege that he disappeared after the indictment. He reportedly wrote a letter to his friends and regulators that he was planning to take his own life since he had lost a lot of money. Authorities allege he was last seen boarding a ferry in Florida.

According to the police, he now has resurfaced as a result of being picked up for a vehicle and traffic violation in Georgia.

When someone deposits money into dummy accounts or uses an unlawful scheme to obtain money illegally, the crime is typically known as embezzlement. When millions of dollars are involved in an embezzlement scheme, the penalties can be especially harsh. Regardless of what is written in the newspapers, the accused is still innocent until proven guilty. If an Atlanta resident is suspected of embezzlement or another crime, he or she should take appropriate steps to challenge every aspect of the prosecution, including matters such as the lawfulness of the arrest.

Source: NBC Channel 11 Alive, "Missing banker accused of embezzlement caught in traffic stop," Don Buckindail, Jan. 1, 2014

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Nick Lotito & Seth Kirschenbaum

Former Federal Prosecutors

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