Long Island Man Admits To Embezzling Millions

The chief financial officer of a Long Island real estate company pleaded guilty today to charges in connection with him embezzling millions of dollars from the company he worked at over three years.

Kwesi Bovell, 36, of Valley Stream, pleaded guilty to one count of wire fraud in connection with him embezzling millions from the Manhasset-based Mulholland Group. Bevell now faces up to 20 years in prison, as well as restitution and a fine.

“With today’s guilty plea, Bovell has been held responsible for betraying his employer’s trust by stealing millions of dollars to benefit himself, from the time he was hired until the discovery of his fraud,” said United States Attorney Richard Donoghue.

Bovell was hired to be the CFO of The Mulholland Group in 2015. As part of his job, he was given signature authority over numerous bank accounts of the company and its subsidiaries. Over three years, Bovell fraudulently transferred more than $3.5 million from Mulholland to his own company, Southgate Holding, LLC.

He used the money he stole to support two laundromats and a fitness center he owned, as well as to purchase luxury goods.