DOWNTOWN BROOKLYN — JORDAN KHAMMAR, 47, a finance director for a major multimedia and brand management company, pleaded guilty Wednesday in Brooklyn Federal Court to wire fraud and money laundering in a decade-long scheme to steal more than $7.9 million from his employer, referred to as “Company-1” in a release from the Eastern District of New York. When sentenced, Khammar faces a maximum sentence of 20 years’ imprisonment as well as restitution of at least $7.9 million in addition to $7.9 million in criminal forfeiture.
In the scheme, Khammar initiated over 300 unauthorized wire transfers to himself, masking them in Company-1’s general ledger as legitimate business expenses, such as renovations to the company’s Brooklyn office. Stolen funds were directed to “Olive Tree Ventures, Inc.,” a company he controlled, and distributed to finance his business venture “Sideswipe Media, Inc.,” purchase real estate, and cover personal expenses.
Joseph Nocella Jr., United States Attorney for EDNY, and Harry Chavis Jr., special agent in charge of criminal investigations for the Internal Revenue Service in New York, announced the guilty plea.
“When someone turns a company’s financial systems into their personal slush fund, we will unwind every transaction and make sure they answer for it,” Chavis said.
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