By Anne Runkle
Press & Guide, Dearborn, Mich.
(TNS)

A Riverview, MI, man pleaded guilty in federal court on Tuesday, July 7, to embezzling more than $1.1 million from his employer.

Jacob Wise, 29, pleaded guilty to one count of wire fraud against the business where he worked as a financial controller, according to a release from Jerome Gorgon Jr., U.S. attorney for the Eastern District of Michigan.

Wise also pleaded guilty to one count of laundering the proceeds of his crimes.

Wise admitted to devising and executing a scheme to divert the company’s funds to bank accounts he controlled. The accounts appeared to be legitimate vendors for the company, the release said.

“In reality, Wise himself controlled the accounts and used the diverted funds to make purchases, including a Ford F-150 pickup truck, which agents seized as part of the investigation,” the release said.

The release did not name the employer.

Sentencing before U.S. District Judge Judith Levy will be set after a presentence report is prepared. Wise faces a maximum sentence of 20 years in prison, a fine of up to $250,000 and up to three years of supervised release following any term of imprisonment.

The FBI and Internal Revenue Service investigated the case.

Photo credit: sergeitokmakov/Pixabay

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© 2026 Press & Guide, Dearborn, Mich. Visit www.pressandguide.com. Distributed by Tribune Content Agency LLC.

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