Former Mulholland Group CFO Kwesi Bovell Pleads Guilty to Multi-Million Dollar Embezzlement
Mulholland Group hired Bovell as CFO in 2015.
Mulholland Group officials notified the government of irregularities in Bovell’s use of the company’s platinum American Express card. Bovell charged $145,000 in expenditures for personal items.
Mulholland Group gave Bovell signature authority to use multiple company accounts as the CFO. Mulholland is a real estate firm with properties across the country.
Bovell used the stolen funds to support two laundromats and a fitness center that he owned and to purchase luxury goods.
Prosecutors also claim Bovel created fake bank statements to mislead individuals about the amounts remaining in various bank accounts.
Bovell was also arrested for criminal possession of a loaded firearm, assault, and unlawful imprisonment in 2015.
He pleaded guilty to the charges in that case.
As a result, prosecutors contend that Bovell is a violent criminal and a danger to his community.
Prosecutors alleged Bovell is a flight risk because of his wealth and his connections to Guyana. As a result, the court agreed with prosecutors and held Bovell in custody.
Prosecutors asked bail be denied stating:
FBI Assistant Director William Sweeney said in a statement: