Manufacturing company co-owner charged with wire fraud and money laundering
May 30, 2023
Neil Divers is accused of diverting tens of thousands of dollars from the company to his personal bank account.
Neil Divers, co-owner of Kodiak, Precision, Inc., a machined component manufacturing company, has been charged with wire fraud and money laundering. He is accused of diverting tens of thousands of dollars from the company to his personal bank account. According to the U.S. Attorney's Office, Northern District of California, company owners discovered Divers’ scheme in 2015, and put controls in place to prevent this from happening. Despite being removed as a signatory on the company’s accounts, Divers was able to circumvent the controls and continue siphoning money.
Divers faces five counts of wire fraud, in violation of 18 U.S.C. § 1343, and two counts of money laundering, in violation of 18 U.S.C. § 1957. Each wire fraud count carries a maximum sentence of 20 years in prison and a $250,000 fine, while each money-laundering count has a maximum sentence of 10 years in prison with a $250,000 fine.
This paper addresses where leaks commonly occur, leak detection methods, and practical advice for an audit and repair plan. You'll learn why an ongoing leak detection and repair...
This special report explores the latest innovations in compressed air tech to help your facility reduce artificial demand and achieve greater system control. You'll also gain ...
Here are some things you can do in between formal preventive maintenance visits on your electric screw compressor to extend compressor life and prevent downtime.
They cost more than refrigerated dryers. They need more parts and service than refrigerated dryers. They increase demand for compressed air. So when should you use a desiccant...
