3rd Vanguard Funding Executive Admits Guilt In Embezzlement Scheme

Third Vanguard Funding Executive Edward Bohm Admits Guilt in $8.9 Million Embezzlement Scheme

Vanguard Funding
The saga of the $8.9 Million Vanguard Funding embezzlement scheme continues.
Edward Bohm became the third Vanguard executive to admit to being involved in the scheme. Bohm pleaded guilty to conspiring to commit wire fraud and bank fraud in connection with a scheme. COO Matthew Voss and CFO Edward Sypher have already pleaded guilty in a scheme.
Sypher and Voss were sentenced to 18 and 24 months in prison in December. They also pleaded guilty and were ordered to pay restitution.
The USAO for the Eastern District of New York claims Bohm, Sypher, and Voss obtained warehouse lines of credit for Vanguard from various lenders by falsely stating that the proceeds would be used to fund mortgages or refinance mortgage loans.

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