A former accounting manager at Carrier Corp. in Indianapolis has been sentenced to a year in federal prison for embezzling more than $1.2 million from the company, U.S. Attorney Josh Minkler announced Wednesday.
U. S. District Judge Sarah Evans Barker also sentenced Ryan King, 44, to two years of supervised release that includes six months of home detention.
King oversaw financial transactions for Carrier, a division of United Technologies Corp., at its West Morris Street office from February 2013 through April 2014.
Investigators say King began his scheme shortly after taking the position. He created a personal checking account in the name of “Carrier Services” and instructed various vendors to make payments in the form of checks made out to that name. He then deposited some of those checks into his account.
He also sent inflated invoices to vendors via fax and asked them to make direct wire transfers into the account.
King was ordered to make more than $1.2 million in restitution. More than $500,000 of that amount has already been recovered from various savings and investment accounts and assets owned by King.