Michele Beckwith Acting U.S. Attorney | U.S. Attorney for the Eastern District of California
Kenneth Gould, a former Certified Public Accountant from Clovis, has admitted to committing bank larceny by embezzling over $800,000 from a financial institution. Acting U.S. Attorney Michele Beckwith made the announcement regarding Gould's guilty plea.
Court documents reveal that between October 2017 and March 2018, Gould operated a payroll services company in Clovis and orchestrated fraudulent electronic transfers from one of his client's accounts to his own company's account at the bank. These transactions allowed him to withdraw funds via cashier’s checks while they were still pending approval. Once the bank identified the insufficient funds, it attempted to reverse the payments but was unable to recover approximately $830,000 that had already been withdrawn.
Gould reportedly used these funds to repay the client from whose account he had initiated the fraudulent transactions, hoping for reimbursement on a previous loan. However, instead of repayment, the client gambled away the money.
The Federal Bureau of Investigation conducted an inquiry into this case with Assistant U.S. Attorney Joseph Barton handling its prosecution.
Sentencing is scheduled for June 2, 2025, under U.S. District Judge Jennifer L. Thurston. Gould could face up to 10 years in prison and a $250,000 fine. The final sentence will be determined by considering statutory factors and Federal Sentencing Guidelines.
