A Utah resident who stood accused of misappropriating over $700,000 from a Montana-based company has now confessed to the charges, according to statements made by U.S. Attorney Jesse Laslovich.

Thomas Lynn Syddall, a 50-year-old American Fork, Utah resident and an employee of a firm owned by Anderson ZurMuehlen & Co., has pleaded guilty to wire fraud and money laundering concealment as detailed in the indictment.

Syddall is facing a potential maximum penalty of 20 years in prison, a fine of up to $500,000, or twice the value of the misappropriated assets, in addition to a three-year period of supervised release.

The sentencing date has been scheduled for March 20, 2024, and in the meantime, Syddall has been released pending further legal actions.

The Embezzlement Details

According to official court documents, Syddall was employed as a salesperson at Information Technology Corporation, a company under the ownership of Anderson ZurMuehlen & Co.

Between approximately March 2020 and August 2021 in Helena, Syddall allegedly carried out embezzlement through a variety of methods.

These methods included generating fraudulent purchase orders and invoices, pilfering inventory, and channeling payments to fictitious entities and unauthorized suppliers.

The stolen inventory was subsequently sold on platforms like eBay and KSL Classifieds, with none of these transactions being authorized.

When fellow employees raised concerns about the inconsistencies in orders and payments, Syddall sent deceptive emails in an attempt to mask and prolong the fraudulent activities.

Additionally, he concealed financial transactions by routing the proceeds from wire fraud into third-party accounts and subsequently directing the funds into accounts under his control.

The investigation has uncovered approximately $759,100 in restitution that is owed.

The case is being prosecuted by Assistant U.S. Attorney Ryan G. Weldon, with the investigation being conducted by the FBI and IRS Criminal Investigation.


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