$4.8 million is a lot of money and can easily get anyone in trouble if acquired illegally. An employee of Holt of California was convicted recently of fraud and money laundering for the said amount.
Kevin Lee Co who worked as a controller in Holt of California's accounting division pled guilty of stealing a total of $4.8 million between 2008 up to 2015. Kevin Lee Co spent most of the money on sports cars, furniture, and NBA season tickets. One of the most intriguing parts of this crime was the $1 million spent on an online game called "Game of War." "Game of War' is a mobile game which is considered as a clone of the epic "Clash of Clans," according to Kotaku.
Holt of California is one of the biggest company which deals with new and used CAT construction equipment, the company also deals with rentals, parts, and service. A company this big deals in thousands or even millions of dollars in revenue. Stealing $4.8 million dollars and spending $1million on an online game seems ridiculous. Kevin Lee Co cannot be blamed for making the $1 million investment to "Game of War", come to think of it, he already made one of the worst decisions in his life when he decided to steal from his employers.
Kevin Lee Co pleaded guilty last December 8, 2016, and will be sentenced in March 2017. The current penalty for Kevin Lee Co's crime in the state of California is 20 years imprisonment and $250,000 fine for fraud, while money laundering will also get him another 20 years behind bars with a much more expensive fine of $500,000. Kevin Lee Co's activities were discovered through a joint investigation by the Internal Revenue Services (IRS) and the Federal Bureau of Investigation, based on the post by the Eastern District of California U.S. Attorney's Office.
