WASHINGTON – Salusthian Lutamila, the previous Director of Finance of the Inter-American Improvement Financial institution – IIC Federal Credit score Union, was sentenced in the present day to 44 months in jail for an embezzlement scheme during which he stole $610,000 from the credit score union.
The announcement was made by U.S. Lawyer Matthew M. Graves and Wayne A. Jacobs, Particular Agent in Cost of the FBI Washington Subject Workplace Felony Division.
Lutamila, 53, of Hyattsville, Maryland, was discovered responsible by a jury in Could 2022, within the U.S. District Courtroom for the District of Columbia, of 21 counts of financial institution fraud, theft by a credit score union worker, wire fraud, and cash laundering. He was sentenced by the Honorable James E. Boasberg. Following his jail time period, Lutamila can be positioned on three years of supervised launch. Throughout that point, he’s barred from working in finance or accounting. He additionally should pay $76,069 in restitution and an equal quantity in a forfeiture cash judgment.
In line with the federal government’s proof at trial, from November 2016 via April 2019, Lutamila labored on the credit score union, first because the Controller after which because the Performing Chief Monetary Officer. Shortly after discovering out that he was not being promoted to the position of Chief Monetary Officer, Lutamila started embezzling cash from the credit score union. Particularly, starting in November 2018 via January 2019, Lutamila stole $610,000.
All through the scheme, Lutamila abused and misused his place and employment on the credit score union with the intention to illegally switch cash from inner working accounts to a beforehand dormant checking account. Lutamila then abused the authority granted to him as Performing CFO to secretly transfer that cash to an E-Commerce account he had opened in the beginning of the scheme.
Lutamila then used the stolen cash to repay his automotive, improve the steadiness on his retirement account, and purchase shares. Lutamila’s scheme was found only some weeks earlier than he was set to resign from the credit score union when the newly employed CFO recognized the fraudulent transfers. As a result of fast actions by the newly employed CFO, the credit score union was in a position to flag the fraud and get again a lot of the embezzled cash.
In saying the sentence, U.S. Lawyer Graves and Particular Agent in Cost Jacobs counseled the work of those that investigated the case from the FBI’s Washington Subject Workplace. Additionally they expressed appreciation for the help supplied by the Metropolitan Police Division (MPD). They counseled the efforts of those that labored on the case from the U.S. Lawyer’s Workplace, together with Paralegal Specialists Mariela Andrade and Michon Tart, and Supervisory Litigation Know-how Specialist Leif Hickling.
Lastly, they counseled the work of Assistant U.S. Lawyer Janani Iyengar, who investigated the case, and Assistant U.S. Lawyer Melissa Jackson and former U.S. Lawyer Peter Lallas, who prosecuted the case.