WORCESTER – Federal prosecutors announced on Friday, October 22, that law enforcement arrested a man accused of embezzling approximately $370,000 from a non-profit organization in Sturbridge.
A federal grand jury indicted Kyriakos Kapiris, a/k/a Rick Kapiris, 35, of Northborough, on two counts of wire fraud and one count of money laundering.
Kapiris was the IT Manager at the Sturbridge organization April 2015 and May 2020, and had access to two company credit cards to purchase IT equipment and services. Prosecutors allege Kapiris set up two vendor accounts on Square and another on Amazon, used the credit cards to make purchases, then fabricated sales invoices for purportedly purchased equipment to conceal the scheme.
Kapiris allegedly used the funds for personal expenses, including $19,250 to a contractor hired to build a new residence in Northborough.
The charges of wire fraud provide for a sentence of up to 20 years in prison and a fine of $250,000. The charge of money laundering provides for a sentence of up to 10 years in prison and a fine of $250,000.
