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Florida man sentenced to over four years for embezzling $5.8M from employer

Florida man sentenced to over four years for embezzling $5.8M from employer

Yahoo06-06-2025
BOSTON (WWLP) – A Florida man who served as a finance director has been sentenced to more than four years in federal prison for embezzling over $5.8 million from his employer, prosecutors announced Thursday.
Ten arrested in multi-location drug bust in Holyoke
Paul Schnitzer, 52, of Clermont, Fla., was sentenced in U.S. District Court in Boston to 54 months in prison and three years of supervised release.
Schnitzer was also ordered to pay $5,831,829 in restitution and forfeit assets he acquired through his scheme, including the balances of two financial accounts, subscription ownership shares in certain artwork, and up to $50,000 in cash held with luxury jeweler Bulgari.
Federal prosecutors said Schnitzer carried out the fraud between January 2022 and May 2024 while working as the finance director of a Florida-based company owned by a Massachusetts investment firm. Over that period, he made more than 100 unauthorized transfers from the company's operating account into his personal bank account. Many of the transfers were falsely labeled as 'equity distributions,' according to court documents.
To conceal the theft, Schnitzer used a company line of credit to replace stolen funds and further siphon money into his own account. Prosecutors said he also submitted falsified financial reports showing inflated cash balances to the company's owners and went so far as to spoof email addresses, posing as representatives from the company's bank and customers to mislead auditors.
Schnitzer was initially released while awaiting trial, but was arrested again in June 2024 after he removed his court-ordered location monitoring device. He was later found to have used a company credit card to make more than $10,000 in unauthorized purchases in August 2024.
Schnitzer pleaded guilty in the case earlier this year.
WWLP-22News, an NBC affiliate, began broadcasting in March 1953 to provide local news, network, syndicated, and local programming to western Massachusetts. Watch the 22News Digital Edition weekdays at 4 p.m. on WWLP.com.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Is America done with clean energy? Why wind, solar power are in peril
Is America done with clean energy? Why wind, solar power are in peril

USA Today

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  • USA Today

Is America done with clean energy? Why wind, solar power are in peril

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The only thing Alina Habba is enforcing is Trump's vengeance
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USA Today

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The only thing Alina Habba is enforcing is Trump's vengeance

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Read Our Complete Coverage Facing an uphill battle in getting all courthouse arrestees released, the legal advocacy organizations are shifting their strategy to challenge as a system what they argue are unlawful policies. Belsher, of the NYCLU, said doing so is necessary to combat the Trump administration's crackdown on migrants. 'This is a broader strategy of the government's, right? Just flood the system,' Belsher said. 'They are causing enormous harm by just doing unlawful things at scale.' Every individual case requires intensive resources. 'They are doing this to hundreds of people,' she said, 'and thousands of people are terrified to go to their hearings because of it.' The lawsuit argues that allowing the courthouse arrests to continue will only enable ICE to detain more people, putting more strain on detention centers that are already at or over capacity. Through June, data shows that ICE has doubled arrests compared to 2024. 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