An Atlanta man will serve time in federal prison for embezzling $1.1 million from Honeywell while working in the company’s Roswell office, the U.S. Department of Justice said.
Errol Buggs, 44, worked at the company from January 2012 to June 2016. During that time, a Honeywell employee in Canada noticed three suspicious wire transfers sent to a vendor in Georgia; there were no invoices to support the transfer of funds, the Justice Department said.
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The company that received the wire transfers, Tredd LLC, was a shell company that Buggs set up, the Justice Department said. Buggs was listed as Tredd’s chief operating officer by the Georgia Secretary of State. Investigators discovered Buggs used a legitimate vendor’s address to make the transfers to Tredd go through.
Buggs was a senior finance analyst with Honeywell, which gave him authorizations to approve vouchers for wire transfers. He used the login credentials from a coworker and two former employees to submit the vouchers that resulted in the wire transfers to Tredd, the Justice Department said. By the time investigators discovered the scheme, Buggs had made 28 wire transfers amounting to $1,134,493.35, according to the Justice Department.
Buggs has been convicted of wire fraud. On Nov. 15, he was sentenced to two years in prison and three years of supervised release. He must also pay the amount of embezzled funds in restitution to Honeywell.
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