A Kansas accountant has admitted to stealing hundreds of thousands of dollars from a client and disguising the theft as legitimate business expenses.
According to a new Department of Justice (DOJ) press release, Quintin Flanagin, 45, of Colby, entered a guilty plea to charges including wire fraud, bank fraud, making false statements and money laundering.
Prosecutors say Flanagin exploited his role as a certified public accountant and authorized signer on accounts belonging to Diamond M. Farms, a client of his firm.
Between December 2021 and August 2022, Flanagin wrote multiple checks and initiated wire transfers to shift roughly $409,710 to an entity called Middle Finger Ranch, which he falsely described as a vendor for farm-related services.
In reality, the business was fictitious and tied directly to his personal bank account. The stolen funds were used to finance construction on his private residence.
Sentencing is set for October 30th, 2025. The final decision will be made by a federal judge, who will weigh sentencing guidelines and other legal considerations.
In similar news, last week, the formerly married CEO and President of a Hawaii-based shipbuilding firm received a combined 15-year prison sentence for a $29 million investor fraud scheme.
According to the DOJ, Curtis Jackson and his ex-wife, Jamey Jackson, were sentenced for fraud due to their connection with Semisub Inc.
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