Between 2007 and 2019 the comptroller for Gulf-Dan Shipping, Deepak Jagtani, embezzled more than $7,000,000 dollars from the company.
Jagtani controlled payroll for Gulf-Dan and used his access to pay himself excessive salaries and benefits.
He also admitted to filing false tax returns from 2014 to 2017. He reported business losses from a fake catering business he claimed he and his wife owned in order to offset his income, and avoided paying $1,232,267 in federal income taxes.
The wire fraud charges earned Jagtani a 63 month prison sentence, and the charge for filing false tax returns resulted in a 36 month sentence. Both sentences will be served concurrently. Jagtani was also ordered to pay $7,000,000 in restitution to Gulf-Dan Shipping and $1,232,267 to the IRS.