Mooresville Man Sentenced For Mail Fraud And Money Laundering In $1.9 Million Embezzlement Scheme

CHARLOTTE, N.C. - A Mooresville man was sentenced to 41 months in prison today for stealing more than $1.9 million from his employer, announced Russ Ferguson, U.S. Attorney for the Western District of North Carolina. Gene Christopher Acuff, 62, was ordered to serve one year of supervised release after he is released from prison, to pay restitution in the amount of $1,997,150.29, and to forfeit $400,000 as a penalty for his crimes.

Steven Gutierrez, Acting Special Agent in Charge of the United States Secret Service, Charlotte Field Office, joins U.S. Attorney Ferguson in making the announcement.

According to court documents and court proceedings, Acuff was employed as a senior manager by Company A, a large retailer with stores throughout the United States, Canada, and Mexico. As part of his duties, Acuff was responsible for reviewing property tax assessments on Company A's stores and retaining real estate appraisers and other professionals to evaluate tax assessments on company stores. Businesses that provided those services to Company A would submit invoices which Acuff paid through Company A's bill pay system.

According to court records, between January 2020 and June 2024, Acuff created five businesses with names related to real estate appraisal and consulting services. As part of the scheme, Acuff submitted false and fraudulent invoices to Company A in the names of his businesses for appraisals and other services that were never provided to Company A. Acuff then used his authority and access to Company A's billing system to authorize payments of the false invoices. Through this scheme, Acuff issued payments totaling more than $1.9 million, which he deposited into bank accounts he controlled.

In announcing the sentence, U.S. District Judge Matthew E. Orso said, "A slap on the wrist in a case like this won't establish true deterrence."

Acuff pleaded guilty to mail fraud and money laundering. He will be ordered to report to the Federal Bureau of Prisons upon designation of a federal facility.

The case was investigated by the U.S. Secret Service.

Assistant U.S. Attorney Benjamin Bain-Creed with the U.S. Attorney's Office in Charlotte prosecuted the case.