A Wilmington pilot has been indicted on charges of operating false invoicing and other methods that led to $2.7 million in losses at his employer.
Kevin N. Boardman, 45, was charged with multiple counts of mail fraud, announced United States Attorney for Phiadelphia Zane David Memeger.
Boardman is a pilot who served as Director of Aviation and Chief Pilot at a family-owned investment management company in its Aviation Department located in Delaware County. His LinkedIn profile listed that company as Berwind, a Philadelphia firm that invests in companies.
According to a release, it is alleged that between 2006 and 2013, Boardman devised numerous methods to embezzle money from his employer, eventually stealing over $2.7 million.
One of the methods was a false invoicing scam. Boardman allegedly established two companies, Optical Axes, Inc. and Airside Monitor LLC. Both were front companies that supplied no goods and provided no services.
Optical Axes purportedly operated from Lakewood, New York, and Airside from Dover and Wilmington. The indictment alleges that Boardman caused approximately 50 invoices from these front companies to be issued to Company A, which paid the invoices by mailing checks to the phony business addresses.
If convicted, Boardman faces a maximum possible sentence of 20 years in prison on each of the ten counts in the indictment, three years of supervised release, a $2.5 million fine, a $1,000 special assessment, and criminal forfeiture.
The case was investigated by the Federal Bureau of Investigation and is being prosecuted by Assistant United States Attorney Nancy E. Potts.
