A New Hartford firm’s chief monetary officer admitted Thursday to stealing $776,000 from his agency to take a position it partly in African diamonds, federal prosecutors stated.
Michael Bartusek, 58, pleaded responsible to wire fraud, cash laundering and submitting a false tax return, in response to the U.S. Lawyer’s Workplace for the Northern District of New York. The plea comes just more than a year after Bartusek was initially charged.
From the summer time of 2015 by means of 2016, Bartusek defrauded an organization out of about $776,000 and invested it in a scheme to purchase and promote diamonds, federal prosecutors stated. Bartusek labored for New Hartford-based PAR Technology Corporation throughout that point.
Bartusek deliberate to return the cash as soon as he profited, in response to prosecutors. However Bartusek’s funding didn’t work out and he misplaced the cash, prosecutors stated.
In an effort to recoup his losses, Bartusek then solicited investments for Integra Diamonds with false representations, in response to prosecutors.
Bartusek additionally filed a failed tax return in 2015 and underreported his whole revenue by about $123,000, prosecutors stated. He then underreported his wage in 2016 by $46,000, in response to prosecutors.
He faces as much as 20 years in federal jail for the fraud conviction, 10 years fro the cash laundering conviction and three years for the tax conviction. Bartusek might be fined as much as $250,000 and is topic to a forfeiture cash judgment of $946,000.