Man Pleads Guilty to Wire Fraud in Embezzlement Case

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James R. Cooley, of Tulsa, pleaded guilty Tuesday to a charge of federal wire fraud connected to his embezzlement of almost $700,000 from his employer. Cooley also pleaded guilty to a tax crime after he failed to report the income he received from his fraud.

According to the plea agreement, Cooley worked as the regional human resources manager of Newfield Exploration Company from September 2007 until January 2011. In 2008, he incorporated a consulting company with the intention to provide himself with extra income. Cooley admitted to creating and submitting false invoices on behalf of the consulting business for services that were never performed.

The wire fraud charge outlined 17 related wire transfers that totaled over $693,000. Cooley stated in the plea agreement that he deposited the funds into the bank account he had created for the consulting company. Some of the money was spent on personal items that included jewelry, airline tickets, vehicle payments, and a condominium in Mexico.

Cooley also pleaded guilty on Tuesday to not reporting $313,000 in embezzled funds on his 2010 federal tax return. His plea agreement detailed other admissions including his failure to report amounts of $246,800 on his 2009 return and $133,500 on his 2008 tax return that had also been embezzled.

United States District Judge James Payne will sentence James Cooley on February 25, 2013. The plea agreement submitted indicates that federal sentencing guidelines will call for a prison term equal to, or less than four years and three months.

If you find yourself facing federal fraud charges, it is important to find an experienced federal wire fraud attorney to represent you. The criminal attorneys of Parkman & White, LLC have a history of success in the court room and are ready to represent clients nationwide