A former digital advertising government has admitted to embezzling greater than $22 million of his employer’s funds to make use of for cryptocurrency playing and private bills.

Cincinnati resident Daniel Bleiden pleaded responsible to wire fraud and aggravated id theft final week. He’d beforehand served as vice chairman of accounting and finance at StyleHaul, the seminal digital media firm for the style, way of life, and wonder industries, which shut down earlier this 12 months.

The Division of Justice famous that in his time on the firm, Bleiden had abused his authority to smuggle firm cash into his private checking account, later loading his cryptocurrency accounts with greater than $eight million.

Court docket paperwork reportedly confirmed Bleiden “steadily” gambled with cryptocurrency he bought. Bleiden was additionally stated to have despatched $1.2 million in private checks to poker gamers, and used $1.1 million to repay his private bank cards.

Bleiden even spent $155,000 to enter two poker tournaments simply earlier than his dismissal from StyleHaul.

Authorities acknowledged that Bleiden hid his exercise by making faux entries in accounting data, notably to indicate illicit funds have been for StyleHaul shoppers. He additionally faked Western Union letters to again his fraudulent wire transfers.

He additionally created a “fictitious lease” for the rental of a condominium in Mexico, and admitted to transferring $230,000 of StyleHaul’s cash whereas pretending to hire the premises to StyleHaul’s workers and shoppers.

Bleiden’s sentencing listening to is scheduled for March 20 subsequent 12 months. He faces a statutory most sentence of 22 years in jail.

Printed November 25, 2019 — 12:45 UTC