A former senior executive at a Mishawaka business has been sentenced for stealing over $1.5 million from his former employer. James Cotton, 58, of Granger, pleaded guilty to wire fraud earlier this year after he admitted to stealing the money over an 8-year period.
Cotton told FBI investigators that he created five fake businesses and fabricated invoices to obtain payment for goods and services from 2009 to 2017. Cotton approved the invoices on behalf of his employer, then was issued checks for each invoice, which he deposited in personal accounts and used for his own benefit.
“The amount of Mr. Cotton’s fraud is staggering, with over $1.6 million in loss to his employer. With the great work of the FBI, we were able to bring this case to a successful conclusion with an order of restitution and significant jail time,” said U.S. Attorney Thomas L. Kirsch II.
Cotton is also required to pay over $1.66 million in restitution.