A 45-year-old Indian-American man, who was accused of duping a bank and stealing more than $4,84,000 from his employer, has been sentenced to 20 months in prison. Kiran Andhavarapu pleaded guilty on February 9 and was sentenced on Thursday, April 27, according to a statement given by the US Attorney from the Southern District of Texas.
The accused, a resident of Conroe in Texas, has been given 20 months of jail and 3 years of supervision after being released for stealing more than $4,84,000 from Weatherford International and its subsidiary EProduction Solutions.
Weatherford international is one of the world's largest multinational oil and natural gas service companies while EProduction Solutions was acquired by the former and manufactures safety control and automation systems for wellhead and process applications.
Andhavarapu, was a financial controller in the company., accepted the guilty plea. During the investigation, which was conducted by the FBI, it was found that Andhavarapu misused his position to commit the crime.
According to Judge Ellison, Andhavarapu stole from his employer by opening bank accounts in the name of EProduction Solutions and listing himself as the owner and sole proprietor of the business. He then stole refund cheques issued to his employer and deposited them in the same accounts.
The statement given by the US Attorney from the Southern District of Texas also said that Andhavarapu, who admitted to the crime, would remain in custody until he is transferred to a US Bureau of Prisons facility, the date for which will be determined later.