Tags: Marvin Jay Caukin | Gulfstream | embezzlement | sentencing

Former Gulfstream Exec Gets 11 Years for $10 Million Embezzlement

Monday, 22 Jun 2015 04:51 PM

The former director of finance and accounting at Gulfstream Aerospace Corp.'s facility in Long Beach, California, was sentenced on Monday to 11 years in federal prison for embezzling some $10 million over more than a decade.

Marvin Jay Caukin, 66, pleaded guilty in January to conspiracy to commit mail fraud, admitting that he took part in a long-running scheme to defraud Gulfstream by submitting bogus invoices to the aerospace company, federal prosecutors said.

The phony billing statements were from fictitious companies set up by Caukin's relatives and associates with names similar to actual aerospace businesses, according to court documents filed in the case.

Once Gulfstream issued checks to the phony vendors, Caukin used the funds to pay for his own personal expenses, such as his home mortgage, car payments, credit car purchases and professional escorts, the U.S. Attorney's Office said.

The scheme began soon after Caukin was hired by Gulfstream in 2000 and ended 13 years later when he was fired for failing to disclose a prior embezzlement conviction and lying about a job he supposedly had when he was actually serving a three-year prison term, prosecutors said.

Assistant U.S. Attorney Andrew Brown said an investigation of the Gulfstream embezzlement continues, but nobody else has been charged.

Gulfstream, a subsidiary of Virginia-based General Dynamics Corp., is a leading manufacturer of corporate jets. The site in Long Beach, south of Los Angeles, where Caukin worked anchors Gulfstream's west coast operations and is one of several facilities around the county where the company builds and outfits its aircraft.

In addition to his 11-year sentence, Caukin must pay $10.25 million in restitution and forfeit to the government at least $2.4 million of his interest in Los Angeles-area real estate.

© 2017 Thomson/Reuters. All rights reserved.

   
1Like our page
2Share
Companies
The former director of finance and accounting at Gulfstream Aerospace Corp.'s facility in Long Beach, California, was sentenced on Monday to 11 years in federal prison for embezzling some $10 million over more than a decade.
Marvin Jay Caukin, Gulfstream, embezzlement, sentencing
286
2015-51-22
Monday, 22 Jun 2015 04:51 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved