A 54-year-old former Benicia resident, Euan David MacGregor, pleaded guilty to one count of wire fraud, admitting to embezzling more than $3.2 million from his former employer. MacGregor, who went by David Joseph Bean during the time of the fraud, carried out the crime between November 2014 and January 2020, utilizing his position as a Chief Administrative Officer to funnel finances into his control, according to a statement from the U.S. Attorney's Office.
Documents filed in court reveal MacGregor’s scheme involved creating a shell corporation with a name similar to his employer’s and directing at least 122 checks payable to his employer into bank accounts he managed, as stated in the U.S. Attorney’s Office press release. Furthermore, MacGregor, presented falsified financial statements to his company's president, and shareholders to cover his tracks, and lied about outsourcing bookkeeping duties to a company he also owned, causing his employer to spend thousands monthly on nonexistent services.
The investigation, conducted by the Federal Bureau of Investigation, led to MacGregor’s confession. He used the stolen money to cover personal expenses, which included mortgage payments, credit card bills, educational costs, travel, and the purchase of vehicles. Assistant U.S. Attorney Shelley D. Weger is the prosecutor handling the case against MacGregor.
MacGregor’s sentencing is scheduled for Jan. 28, 2025, before U.S. District Judge John A. Mendez. He faces up to 20 years in prison and a $250,000 fine, although, his actual sentence will ultimately be at the court's discretion after taking into account statutory factors and the Federal Sentencing Guidelines, which consider various variables.
