WORCESTER – A local man pleaded guilty on Wednesday, June 22, to federal charges related to embezzling $366,000 from a Sturbridge nonprofit organization.
Kyriakos Kapiris, a/k/a Rick Kapiris, 36, of Northborough, pleaded guilty to two counts of wire fraud and one count of money laundering. U.S. District Court Judge Timothy S. Hillman scheduled sentencing for October 14.
Federal prosecutors say from April 2015 through May 2020, Kapiris worked as an IT Manager at a non-profit organization. The organization provided Kapiris with two company credit cards for equipment and services as needed by the organization. The cards were used for purchases from Square and Amazon.
Kapiris allegedly created two vendor accounts on Square and another on Amazon which connected to his personal bank accounts. He then fabricated sales invoices from those vendor accounts and made purchases using the organization’s credit cards.
Prosecutors say Kapiris used the stolen funds for personal expenses, including a $19,250 payment to a home contractor.
The charges of wire fraud provide for a sentence of up to 20 years in prison, three years of supervised release and a fine of $250,000.
The charge of money laundering provides for a sentence of up to 10 years in prison, up to three years of supervised release and a fine of $250,000.
