WASHINGTON (Pakistan Point News / Sputnik - 04th February, 2021) US authorities have jailed a former oil services company executive for embezzling more than $2 million from his firm, the Department of Justice announced in a news release on Thursday.
"A 46-year-old Katy man has been ordered to Federal prison after he admitted to embezzling over $2 million from a local oil services company," the release said. "Robert Andrew Bishop pleaded guilty [on] October 14, 2020."
On Thursday, US District Judge Keith Ellison ordered Bishop to serve a 41-month sentence to be followed by two years of supervised release, the release said.
Bishop was the vice president of resource management at International Professional Management (IPM), an oil services company located in Houston, the release also said.
"As part of his duties, he [Bishop] was in charge of securing short term loans ...he admitted he would inflate the loan amount needed and then divert the excess money to fake vendor accounts," the release added.
Over six years, Bishop diverted roughly $2.1 million from the company's operating expenses. The owners of IPM discovered his fraud scheme in August 2019, according to the release.
