The representative of a Spanish seafood distributor recently pleaded guilty to bank fraud charges in connection with the theft of more than $440,000.

Jorge Manuel Silva of Lowell pleaded guilty to two counts of bank fraud.

Silva admitted he was an independent contractor for Seaport Fish Co., a company which distributes seafood in the United States through the Spain-based Freiremar Group. Silva coordinated sales from customers into Seaport’s bank account. Silva allegedly diverted more than $903,000 from customer sales into two corporate business accounts owned by Silva. On some occasions, Silva reimbursed Seaport with checks from his own accounts.

Silva used fraudulent deposit slips to falsely report to the company that the funds were deposited into Seaport’s bank account, instead using $440,000 worth of company funds for his own use.

Silva faces up to 30 years in prison, followed by five years of supervised release and a fine of $1 million for each count of bank fraud. He is scheduled for sentencing on June 22.

Seafood Distributor Pleads Guilty To $440K Embezzlement Scheme

by Banker & Tradesman time to read: 1 min
0