A North Carolina man is headed to prison for orchestrating a scheme that defrauded an investment bank that employed him in New Jersey out of more than $1.5 million.
Federal prosecutors in New Jersey say 44-year-old Michael Lieberman recently received a 37-month sentence. He also must pay $1,640,822 in restitution and forfeit his home in North Carolina, which he bought with embezzled funds.
The Huntersville resident had pleaded guilty in April to wire fraud.
Prosecutors say that from June 2012 through May 2014, Lieberman devised a scheme to initiate more than 50 separate fraudulent wire transfers, directing the proceeds to bank accounts he either owned or controlled.
Besides buying the North Carolina home, he also spent hundreds of thousands of dollars on hotels, home furnishings and other personal expenses.