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Former real estate employee guilty of embezzlement

STAFF REPORTS


ROCHESTER -- U.S. Attorney James P. Kennedy, Jr. announced today that James Walton, 48, formerly of Webster, NY, pleaded guilty before U.S. District Judge Elizabeth A. Wolford to bank fraud. The charge carries maximum penalty of 30 years in prison and a $1,000,000 fine.

Assistant U.S. Attorney John J. Field, who is handling the case, stated that Walton worked in the finance department of a local real estate business that owned and operated numerous apartments and mobile home parks. In that capacity, the defendant was responsible for processing security deposits and security deposit refunds for tenants. Between 2011 and 2014, Walton took advantage of his position to embezzle security deposit refunds payable to tenants of the business. In total, he stole approximately $53,786.98 from the business.

The plea is the result of an investigation by Special Agents with the Rochester Office of the Federal Bureau of Investigation, under the direction of Special Agent-in-Charge Gary Loeffert.

Sentencing is scheduled for December 6, 2019, at 3:00 p.m. before Judge Wolford.

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