Kenneth Gould, a former Certified Public Accountant from Clovis, has admitted to committing bank larceny by stealing over $800,000. Acting U.S. Attorney Michele Beckwith made the announcement following Gould's guilty plea.
Court records reveal that Gould operated a payroll services company in Clovis and between October 2017 and March 2018, he orchestrated fraudulent electronic payments from a client's account to his company's account at a bank. These funds were then withdrawn by Gould using cashier's checks before the bank identified the insufficient funds issue and attempted recovery.
The stolen amount of approximately $830,000 was transferred to the client whose account was used for the fraudulent transactions. Gould had loaned money to this client with expectations of repayment. However, instead of settling the debt, the client gambled away the funds.
This investigation was conducted by the Federal Bureau of Investigation with Assistant U.S. Attorney Joseph Barton handling prosecution duties.
Gould is set for sentencing on June 2, 2025, by U.S. District Judge Jennifer L. Thurston. He could face up to 10 years in prison and a fine of $250,000. The final sentence will be decided by considering statutory factors and guidelines that weigh various aspects of the case.