Mr. Euan David MacGregor, formerly known as David Joseph Bean is alleged to have diverted funds intended for his former employer to Mr. MacGregor’s own personal bank accounts totaling more than $3.2 million.
Between November 2014 and January 2020, Mr. Euan MacGregor was known as David Bean and held the position of Chief Administrative Officer. During this time Mr. MacGregor allegedly used two methods to defraud his former employer. First, Mr. MacGregor allegedly diverted at least 122 checks made payable to his employer to his personal bank accounts. Mr. MacGregor created a shell corporation that had a business name similar to the name of his former employer. Mr. MacGregor also allegedly presented false financial reports to the company’s president and shareholders causing them to believe they had received the monies.
The second method Mr. MacGregor allegedly used is leading his former employer to believe he was outsourcing the company’s bookkeeping work to a third party, a company named Essential Business Services, one of the shell companies Mr. MacGregor allegedly created. Causing the employer to pay “Essential Business Services,” thousands of dollars each month for bookkeeping services not truly received. The funds were allegedly used to pay for personal expenses including mortgage payments, the payment of credit cards, educational expenses, travel, and the purchase of vehicles.
The authority to initiate purchases, approve purchases, and process payments in purchases is an easy way to conceal a theft scheme.
Photo by Tima Miroshnichenko
