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Scottsdale CEO stole from employee benefit plans: DOJ
A Scottsdale CEO is accused of using retirement plans and health insurance premiums to fund exotic hunting trips to Africa and Alaska, as well as cash gifts for his girlfriend.
SCOTTSDALE, Ariz. - A Scottsdale CEO who allegedly used retirement plans and health insurance premiums to fund exotic hunting trips to Africa and Alaska has been indicted.
What we know:
James Vincent Campbell, 47, entered a not guilty plea inside a Maryland federal court on Aug. 15.
According to the U.S. Department of Justice, Campbell used his company, Axim Fringe Solutions, LLC, to siphon off more than $2.4 million in health insurance premiums and 401(k) contributions.
"Before forwarding the funds, Campbell allegedly pooled them in a master trust account. Between 2015 and 2024, he made 135 unauthorized withdrawals – totaling $2,486,905 – beyond the legitimate fees owed to Axim," the DOJ said in a news release. "Campbell used a significant portion of the stolen funds for personal expenses including big game hunting trips in Alaska, Africa, and other locations; taxidermy fees; jewelry; casino gambling; and direct payments to his girlfriend."
Campbell is accused of theft from an Employee Retirement Income Security Act (ERISA) plan and 11 counts of money laundering. If convicted, he faces a maximum of 10 years in prison for each money laundering count and up to five years in prison for theft.
What's next:
FOX 10 reached out to Campbell's attorney for comment, but we have not heard back.