Real Estate Big-Wig Busted in $3.5 Million Embezzlement Case

posted by Blain Ensley - 

A Long Island real-estate big-wig was arrested and will face charges that claim he embezzled over $3.5 million from the Mulholland Group.

Kwesi Bovell the former chief financial officer for the firm is said to have clipped the millions in cash from between December 2015 and August 2018.

Federal authorities accused Bovell of spending the $3.5 million on an NYC apartment and two homes. Bovell was also said to have signature authority on multiple company accounts which he tried to use to cover his tracks. 

In addition to the shuffling funds around, Bovell is accused of racking up $145,000 in unauthorized personal charges on the company's Platinum American Express Card.

An article in the New York Post stated that federal court papers used in the case against Bovell indicated that the Valley Stream real-estate executive created fake bank statements to mislead individuals about the amounts remaining in various bank accounts from which he was embezzling.

US Attorney Richard Donoghue said in a statement that Bovell "[used] the company like an ATM machine," adding he hoped Bovell's bust would "put fraudsters on notice."


Photo Credit Getty Images

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