CBS 11 Header TXA 21 Header MeTV Header KRLD Header The Fan Header
One Year Anniversary West Fertilizer Blast: | Complete West Explosion Coverage

Local

Dallas Financial Firm Worker Guilty Of Fraud

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

From Our CBS Music Web Sites

kluvs super 70s weekend voting 1979 dl Dallas Financial Firm Worker Guilty Of FraudPick The Best Song From 1979

115245513 8 Dallas Financial Firm Worker Guilty Of FraudCrush Of The Day: Mila Kunis

80219448 Dallas Financial Firm Worker Guilty Of FraudViral Video: Hilarious Southwest Safety Announcement

155742164 Dallas Financial Firm Worker Guilty Of FraudPick Your Favorite Victoria Secret Model

Featured Items

Fantasy_tileHottest Olympians

pet_tileYour Pet Photos

weather_tileSend Us Your Weather Photos

DALLAS (AP) - An employee of a Dallas-based financial firm has pleaded guilty to trying to embezzle nearly $1.3 million through bogus invoices and tax fraud.

Prosecutors in Dallas say Steven Chen Yu Allen pleaded guilty to wire fraud and faces up to 20 years in prison. He also could have to pay restitution. No sentencing date was immediately set Tuesday for Yu, who worked for Hudson Advisors LLC.

Prosecutors say Yu since 2009 diverted funds by submitting duplicate invoices for work already paid for on behalf of a Hudson executive, such as landscaping and boat repairs.

Yu also diverted funds and made an advance “estimated tax payments” for his own future state income taxes in Massachusetts. Prosecutors say Yu then sought a refund.

Further details on the Massachusetts case weren’t immediately available.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Latest News:

Top Trending: