The illegally obtained funds were then used in an unauthorized manner. On one occasion, McEwan paid a client’s payroll with funds he had taken from another client.
Pinnacle’s customers assumed that McEwan was continuing to handle their payroll and withhold and pay taxes on their behalf. However, in his guilty plea, McEwan admitted that he was not providing the indicated services. In the end, McEwan misappropriated and inappropriately spent roughly $6.9 million from 48 of his customers.
McEwan waived his indictment and was subsequently arraigned. McEwan was charged with a single count of wire fraud, specifically, for electronically transferring funds out of one Pinnacle customer’s bank accounts without authorization.
McEwan’s 63-month sentence was handed down by U.S. district court Judge Beth L. Freeman, following a guilty plea. Following the prison sentence, McEwan must also serve a three-year period of supervised release.
McEwan will begin serving his sentence on October 5.
