WASHINGTON – Salusthian Lutamila, the previous Director of Finance of the Inter-American Improvement Financial institution – IIC Federal Credit score Union, was sentenced currently to 44 months in jail for an embezzlement scheme in which he stole $610,000 from the credit rating union.
The announcement was produced by U.S. Legal professional Matthew M. Graves and Wayne A. Jacobs, Specific Agent in Cost of the FBI Washington Subject Business office Prison Division.
Lutamila, 53, of Hyattsville, Maryland, was found responsible by a jury in May 2022, in the U.S. District Courtroom for the District of Columbia, of 21 counts of bank fraud, theft by a credit score union worker, wire fraud, and dollars laundering. He was sentenced by the Honorable James E. Boasberg. Next his prison expression, Lutamila will be placed on 3 a long time of supervised launch. For the duration of that time, he is barred from doing work in finance or accounting. He also ought to shell out $76,069 in restitution and an equal amount in a forfeiture revenue judgment.
According to the government’s evidence at trial, from November 2016 as a result of April 2019, Lutamila labored at the credit rating union, very first as the Controller and then as the Acting Main Fiscal Officer. Soon immediately after finding out that he was not currently being promoted to the part of Main Fiscal Officer, Lutamila started embezzling dollars from the credit score union. Specifically, beginning in November 2018 by way of January 2019, Lutamila stole $610,000.
Throughout the scheme, Lutamila abused and misused his placement and work at the credit history union in order to illegally transfer income from inner functioning accounts to a formerly dormant checking account. Lutamila then abused the authority granted to him as Acting CFO to secretly go that cash to an E-Trade account he had opened at the commencing of the scheme.
Lutamila then utilized the stolen income to spend off his auto, increase the equilibrium on his retirement account, and acquire shares. Lutamila’s scheme was uncovered only a several weeks ahead of he was established to resign from the credit union when the recently hired CFO identified the fraudulent transfers. Thanks to the fast actions by the recently employed CFO, the credit rating union was in a position to flag the fraud and get back most of the embezzled money.
In saying the sentence, U.S. Attorney Graves and Special Agent in Charge Jacobs counseled the work of people who investigated the scenario from the FBI’s Washington Subject Business office. They also expressed appreciation for the aid provided by the Metropolitan Law enforcement Division (MPD). They commended the attempts of these who worked on the situation from the U.S. Attorney’s Place of work, like Paralegal Specialists Mariela Andrade and Michon Tart, and Supervisory Litigation Technological know-how Expert Leif Hickling.
Last but not least, they counseled the operate of Assistant U.S. Lawyer Janani Iyengar, who investigated the circumstance, and Assistant U.S. Attorney Melissa Jackson and former U.S. Lawyer Peter Lallas, who prosecuted the case.