Shocking Money Laundering Scandal: Texas Man Sentenced for Richmond-Based Scheme!
A Texas man was sentenced to 12 months and one day in federal prison for money laundering and wire fraud connected to a Richmond-based business he co-owned, federal authorities confirmed.
Neil Divers, 66, who resides in Godley, Texas, and previously lived in Chico, pleaded guilty to the charges in July. His sentencing was announced by United States Attorney Ismail J. Ramsey.
Divers, who co-owned Kodiak Precision, Inc., a machined component manufacturing company in Richmond, California, will also face restitution payments, with the exact amount to be determined at a hearing scheduled for January 7.
Following his prison term, which begins January 10, he will be subject to three years of supervised release.
According to authorities, Divers’ misuse of company funds dates back to 2015 when he was actively involved in Kodiak Precision.
Concerns from other owners about unauthorized access to company money led to the establishment of procedures in 2016, that required permission from at least one other owner before any funds could be withdrawn.
However, from July 2016 to May 2018, Divers bypassed these restrictions by creating bank accounts in Kodiak’s name, listing himself as the sole signatory—unbeknownst to the other owners. He then instructed an employee to direct certain customers to deposit payments into these unauthorized accounts.
Federal prosecutors revealed that Divers used funds from these accounts for personal expenses, including paying $38,217.84 in August 2019 for landscaping services at his residence.
U.S. District Judge Jon S. Tigar imposed the sentence, concluding the legal proceedings surrounding Divers’ fraudulent activities.