An attorney from Lexington has been charged with wire fraud for allegedly embezzling over $2.5 million from three Massachusetts companies where he worked as a bookkeeper. David Smerling, 74, was arrested and subsequently released under certain conditions.
Court documents reveal that between January 2016 and May 2020, Smerling is accused of transferring funds from the companies' bank accounts to his own. To conceal these actions, he allegedly routed some funds through an intermediary account owned by one of the victims before moving them to his accounts. It is also alleged that Smerling had bank statements sent to his home address instead of the victims’ addresses to further hide his activities.
Wire fraud charges carry a potential sentence of up to 20 years in prison, three years of supervised release, and a fine reaching $250,000 or twice the gross gain or loss. Sentences are determined by a federal district court judge according to U.S. Sentencing Guidelines and other statutory factors.
The announcement was made by U.S. Attorney Joshua S. Levy and Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigation's Boston Field Office. Assistant U.S. Attorney Kristen A. Kearney from the Securities, Financial & Cyber Fraud Unit is leading the prosecution.
It is important to note that all details in the charging document are allegations at this stage. The defendant remains presumed innocent until proven guilty beyond a reasonable doubt in court.