Man ordered to pay back over $3 million as part of theft conviction

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FORT WAYNE, Ind. (WANE) — An Indiana man was sentenced to prison as well as a $3 million restitution for wire fraud and tax crimes.

Frederick McCracken, 62, was sentenced to three years and ten months in prison followed by two years of probation by U.S. District Court Judge Holly Brady.

According to case documents, McCracken worked as an accountant for an industrial construction company located in Marion, Ind., and because of his role as the accountant for the business, he had access to the company’s bank accounts. Case documents how he wrote more than 100 unauthorized checks drawn from the company’s bank accounts to pay his personal credit card obligations more than 50 times.

To avoid detection, McCracken concealed his activities in the company’s accounting system. In total, the fraud scheme resulted in the theft of $2,440,490.46 from his employer, causing an additional $612,500 in tax loss to the IRS.

The case was investigated by the Federal Bureau of Investigation, United States Postal Inspection Service and the Internal Revenue Service Criminal Investigation Division. The case was prosecuted by Assistant United States Attorney Sarah E. Nokes. 

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