A Northern Virginia businessman pleaded guilty this week to wire fraud, after federal investigators claimed he embezzled millions of dollars from his engineering company.
Vic DeAnthony was the president of InSequence in Herndon, Virginia -- but the feds say he dipped into the company's funds to pay for an automobile, watercraft, and a recreational vehicle.
DeAnthony also took money to pay off credit cards and more than a half million dollars to make mortgage payments on and decorate a home in Leesburg, the investigators said.
He also used company money to help sell his home, the feds say.
In all, DeAnthony cost InSequence $3 million, the feds say. DeAnthony faces 20 years in prison when he is sentenced next year. He also will be ordered to try to make restitution.
His lawyer said DeAnthony intended to pay the money back.
"In his particular case, he wasn't try to conceal anything. He wasn't trying to deceive and take money," said Caleb Kershner, DeAnthony's attorney. "But he found himself making personal purchases out of the company funds. It looks extremely bad."
Local
Washington, D.C., Maryland and Virginia local news, events and information
But the feds say DeAnthony did try to conceal his scheme. And they said DeAnthony's crime caused "irreparable damage" to the company, affecting the workers' retirement fund and costing employees raises and bonuses.
This isn't the first case of its kind this holiday season. Donna Jennings, manager of a credit union in Winchester, pleaded guilty to embezzlement Friday.
She was accused of using credit union cash for personal items. The bank had to close, and its accounts were taken over by another bank.
