Dennis Blieden, a former Head of Digital Marketing at StyleHaul, admitted to stealing $22 million from his employer. This was stated by the District of California Attorney's Office.
The former head of the digital marketing department, pleaded guilty to embezzlement of the company’s funds – $22 million. Of these, $8.4 million was scammed by a fraudulent scheme to be converted into digital money.
According to cryptocurrency news, between October 2015 and March 2019, Bliden managed accounting and finance at StyleHaul, once located in Hollywood, but moving to London at the beginning of this of the year. Blieden controlled the bank accounts of the company, which gave him the opportunity to abuse his authority and transfer corporate money to his personal bank accounts. Then, he spent the stolen money on personal expenses, gambling, and the purchase of digital currency.
To hide his illegal electronic transfers, Blieden made fake accounts with authorized cash payments to customers. He also presented bank transfers to a personal bank account as the “shares” the company owed him. In addition, the former executive created fictitious bank transfer letters, which he allegedly sent because StyleHaul owed their clients.
Dennis Blieden is now facing punishment with a maximum term of 22 years.
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