BOSTON (AP) — A Wellesley man has sentenced to 18 months in prison for stealing $1 million from the Cambridge-based technology company where he worked.
Federal prosecutors say 44-year-old Andy Kim was also sentenced Monday to a year of probation. He pleaded guilty in December to two counts of wire fraud.
Authorities say while working as controller for the company, Kim stole $500,000 on two separate occasions. He disguised the transactions as capital transfers to the company’s owner and then fabricated records to make it appear as if they were legitimate capital transfers.
On both occasions, Kim wired the money to a bank account belonging to a real estate investment company, which in one case forwarded the funds to Kim’s personal bank account and in another case, invested the funds on his behalf.