Texas Man Pleads Guilty to Embezzling $3.2 Million From Former Employer

Texas Man Pleads Guilty to Embezzling $3.2 Million From Former Employer

July 1, 2026
By Mintesinot Nigussie

A Texas man has pleaded guilty in federal court to embezzling more than 3.2 million US dollars from his former employer, Austin Freight Systems, according to the US Attorney’s Office for the Western District of Texas.

Mitchell David Slentz, 34, admitted to using his position overseeing accounting operations at the company to make fraudulent payments and transfer company funds into his personal bank accounts.

Court documents show Slentz was responsible for accounting activities, financial reporting and internal controls, including submitting payment requests to JPMorgan Chase for vendor payments. Prosecutors said that between October 2023 and March 2025, he diverted company funds through 147 fraudulent payments, transferring approximately 3.28 million US dollars through interstate wire communications.

The investigation found that Slentz used some of the proceeds to pay personal expenses, including 25,000 US dollars toward student loan debt in July 2024 and 33,887.83 US dollars in September 2024.

Financial analysis of Slentz’s accounts also revealed extensive online gambling activity. Prosecutors said he deposited and/or won more than 1 million US dollars through an online gambling platform using funds connected to the fraud.

Slentz was charged on May 14 and appeared before US Magistrate Judge Dustin M. Howell on June 8. On June 29, he pleaded guilty to one count of wire fraud and one count of engaging in monetary transactions involving criminally derived proceeds.

A federal district court judge will determine his sentence after reviewing federal sentencing guidelines and other statutory factors.

The Federal Bureau of Investigation Austin White Collar Crime Task Force investigated the case. Assistant US Attorney Joshua Somers is prosecuting the matter.

Source: FSX Business News