An Alabama company has lost nearly $191,000 after its accounting manager diverted funds through unauthorized payments and personal spending.
Andrew W. Volkoff, who managed accounting at the Bessemer-based firm, entered a plea agreement in federal court, reports WBRC.
Prosecutors say he issued himself 12 unauthorized payments from the company payroll account and labeled them as expense reimbursements, miscellaneous reimbursements, or commissions, even though Volkoff did not hold a commission-based role.
Those payouts totaled $27,992.15 and sat outside the firm’s regular pay cycles.
He also ran $162,932.42 in personal charges on a company American Express card between January 2023 and June 2025, including a down payment on a 2011 Mercedes-Benz and transfers through PayPal and Venmo.
Combined, the unauthorized activity cost the employer $190,924.57 over about two and a half years.
Court filings name the business only as Business #1.
A June 5th, 2025 direct deposit of $4,323.43 is the specific wire behind Volkoff’s single wire fraud count.
Volkoff told investigators in June 2025 that money problems drove the scheme and use the firm’s credit card to enrich himself unjustly.
A guilty plea on the charge carries up to 20 years in prison, a fine of up to $250,000, and as much as three years of supervised release.
No sentencing date has been set in the Northern District of Alabama case.
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The post Alabama Company Loses Nearly $191,000 After Accounting Manager Diverts Funds, Splurges on Personal Expenses and a Luxury Car appeared first on The Daily Hodl.
