Vernon Hills accountant admits $1.8 million fraud

October 25, 2012

The Associated Press

Federal officials say a Vernon Hills accountant has admitted to bilking clients out of more than $1.8 million over nearly six years.

Fifty-one-year-old Jeffrey Travis pleaded guilty Tuesday in U.S. District Court. He faces a maximum penalty of 30 years in prison and a $1 million fine when he is sentenced on Feb. 5, though he is likely to get much less time because of his plea agreement. He'll also be required to pay restitution.

Authorities say Travis prepared checks payable from his clients to vendors, retirement programs and tax authorities. But instead of sending hundreds of checks, he deposited them into accounts he controlled at US Bancorp then withdrew the money for personal use.

Travis admitted diverting more than $1.8 million from at least May 2002 until December 2008.