Fort Walton Beach man sentenced to 42 months for embezzling more than $824,000

Northwest Florida

PRESS RELEASE FROM USAFLN

PENSACOLA, FLORIDA – Michael C. Greutman, 59, of Fort Walton Beach, Florida, was
sentenced Tuesday afternoon to 42 months in federal prison on charges of wire fraud and tax
evasion stemming from his embezzlement of funds from his employer. Lawrence Keefe, United
States Attorney for the Northern District of Florida, announced the sentencing.

“Thanks to the effective teamwork of federal and local authorities, a seven-year scheme to rip off
a family-owned business will end in a federal prison,” said U.S. Attorney Keefe. “This criminal
thought he would use a position of trust to steal from good people, but instead he will be paying a
heavy price for his actions.”

Between 2009 and 2016, Greutman embezzled over $825,000 from his employer, a family-owned
business in Shalimar, Florida. Greutman worked as the Chief Financial Officer and stole money
by making unauthorized online payments on his personal credit cards with employer funds, using
corporate credit cards for unauthorized personal purchases, and transferring company funds to his
personal bank accounts. He used his position to create false documentation and manipulate
accounting records to cover up his scheme. Greutman also failed to report the embezzled money
as income on his federal income tax returns.

“If left unchecked, greed can be a powerful and dangerous motivator,” said Special Agent in
Charge Brian Payne of IRS Criminal Investigation. “Financial crimes cause serious harm, not just
in the pocket books, but in the emotional wellbeing of its victims. Our joint task force with the
Okaloosa County Sheriff’s Office aims to continue to protect and improve our community by
holding accountable those who perpetrate these devastating crimes.”

“Despite the defendant’s extensive and sophisticated attempts to conceal his embezzlement, it was
not enough to escape the focused scrutiny and meticulous approach of Investigator Les Wolthers,”
said Okaloosa County Sheriff Larry Ashley. “His investigation grew into a unified effort with our
federal partners and we are proud of the successful outcome these relationships produced.”
Deputy United States Attorney Jeffrey Tharp prosecuted the case after a joint investigation by the
Okaloosa County Sheriff’s Office and the Internal Revenue Service-Criminal Investigation as part
of the Emerald Coast Financial Crimes Task Force.

The United States Attorney’s Office for the Northern District of Florida is one of 94 offices that
serve as the nation’s principal litigators under the direction of the Attorney General. To access
public court documents online, please visit the U.S. District Court for the Northern District of
Florida website. For more information about the United States Attorney’s Office, Northern District
of Florida, visit http://www.justice.gov/usao/fln/index.html. The year 2020 marks the 150th
anniversary of the Department of Justice. Learn more about the history of our agency
at www.Justice.gov/Celebrating150Years.

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