Date: August 4, 2021 Contact: newsroom@ci.irs.gov OKLAHOMA CITY — Yesterday, Jordan Glen Young, of Oklahoma City, was sentenced to 30 months in federal prison for wire fraud and signing a false federal income tax return, in connection with a $2.3 million embezzlement from an Oklahoma City trust bank, announced Acting U.S. Attorney Robert J. Troester. "Young abused the trust placed in him as a trust administrator by stealing more than $2.3 million from trust accounts through repeated diversion of funds for his personal benefit over more than a four-year period," said Acting U.S. Attorney Troester. "Young then compounded his greed by attempting to hide the ill-gotten gains when he cheated the IRS by failing to pay more than $500,000 in taxes owed on the illegal income. I commend the agents and prosecutors who worked hard to bring Young to justice." On December 21, 2020, Young was charged by Information with one count of wire fraud and one count of filing a false federal income tax return. From 2006 through March 2020, Young worked at an Oklahoma City trust bank as a trust administrative officer. Young oversaw trust accounts and distributed funds from those accounts to the beneficiaries as needed. On February 22, 2021, Young pleaded guilty to making an unauthorized distribution, in the amount of $60,706.53, to his personal checking account from a trust account he was managing in October 2018. As part of his plea, Young admitted that he embezzled funds from his former employer from December 2015 through March 2020, and stipulated that the total loss to the trust bank from his embezzlement scheme was $2,323,036.91. In addition to wire fraud, Young also pleaded guilty to signing a false federal income tax return. He admitted that on April 15, 2019, he signed a personal federal income tax return for the 2018 calendar year that he knew was false because it reported only $114,439 in total income. At the plea hearing, Young admitted that he omitted on the 2018 tax return thousands of dollars of embezzled income from the trust bank. At yesterday's sentencing, Chief United States District Judge Timothy D. DeGiusti sentenced Young to 30 months of imprisonment, followed by three years of supervised release. Chief Judge DeGiusti also ordered Young to pay restitution to the trust bank, in the amount of $2,323,036.91, and to pay restitution for tax loss to the Internal Revenue Service in the amount of $500,822. Young must report to federal prison on September 8, 2021. This case was the result of an investigation by the Internal Revenue Service - Criminal Investigation and Federal Bureau of Investigation's Oklahoma City Field Office. The case was prosecuted by Assistant U.S. Attorneys Bow Bottomly and Chris M. Stephens.
