Federal prosecutors announced Monday that 47-year-old Jay Edward Wilkins was arrested and charged with wire fraud. If found guilty, he will face a 20-year prison sentence
According to the allegations in the affidavit filed with the complaint unsealed Monday, Wilkins defrauded Baltimore-based Revolution Event Design and Production out of an estimated $200,000, while serving as its chief financial officer. Revolution Event Design and Production in the Carroll Park neighborhood employees 100 people.
Wilkins and his wife filed Chapter 13 bankruptcy in 2012. Debts included a boat, real estate, $30,000 in credit card debt and $30,000 in federal taxes.
Prosecutors said Wilkins transferred over $200,000 of the company’s funds into his personal bank account, by authorizing payments to fictitious accounts for former employees. He altered the accounts where the funds would be deposited into his own account.
In a statement released on Tuesday, Revolution officials said Wilkin’s alleged fraud was found during a random audit. On June 29, the same day the fraud was discovered, Wilkins was removed from building and authorities were notified.
“Revolution takes great price in applying creative and cutting-edge solutions to event design and production every day and we will do no less in identifying new and innovative ways to address its internal financial practices to ensure the company’s financial security and continued health and growth,” the statement said.