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Former CFO of Health Insurance Company Sentenced to Prison for Embezzlement

The former Chief Financial Officer (CFO) of Soundpath Health was sentenced today in U.S. District Court in Seattle to a year and a day in prison for embezzling more than $631,000 from his employer, announced U.S. Attorney Annette L. Hayes. The embezzlement was part of a complex wire fraud scheme that 58-year-old ZACHARY AUGUSTUS SMULSKI used in an attempt to fund his own start-up companies. When the Comptroller at Soundpath Health discovered that SMULSKI had hidden company funds, SMULSKI transferred the money to Soundpath and left the company. Today SMULSKI paid $29,514 in restitution. U.S. District Judge Robert S. Lasnik imposed three years of supervised release to follow prison and told SMULSKI, "it was a crime done for selfish reasons."

Read more on www.justice.gov

Action Details

  • Date:June 30, 2017
  • Agency:U.S. Attorney
  • Enforcement Types:
    • Criminal and Civil Actions

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