Former Semi-Conductor Sales Rep Sentenced to More than Four Years in Federal Prison on Money Laundering Conviction
United States Attorney Richard B. Roper fort he Northern District of Texas announced recently that Roy G. Driscoll was sentenced to 51 months imprisonment and ordered to pay $1,786,770.21 in restitution, following his guilty plea in October 2005 to one count of money laundering. Driscoll admitted embezzling money from his employer Memec Inc., a semi-conductor distributor, by overcharging a customer, Alcatel USA, and then diverting the refunds to accounts under his control. Among other things, Driscoll admitted that he falsely inflated the resale price of electronic equipment Memec sold to Alcatel which caused overpayments and credits to be due to Alcatel USA. Driscoll then caused Memec employees to wire transfer approximately $1,786,770.21 in credits generated from the overcharging to a Bank of America account in Texas in the name of Roy G. Driscoll, doing business as “Alcatel Asset Recovery.”
See full release here.