Rental Company Employee Hatches Scheme to Pocket $4 Million from Equipment Sales

A North Carolina man has pleaded guilty to federal charges of defrauding his former employer of more than $4 million, selling off company equipment through shadow companies and pocketing the money. The charges against Michael Guzman, 43, were detailed in a release issued by the United States Attorney’s Office Western District of North Carolina and court documents. According to the release, Guzman was a fleet operations manager for his employer, identified in the release as Company A, but identified as Sunbelt Rentals in documents filed in a civil suit Sunbelt brought against Guzman shortly after detection of the theft. The release states that from June 2019 until May 2020, Guzman arranged for 398 company assets to be auctioned off through an online heavy construction equipment auction house, identified as Company B in the release and plea documents.   READ FULL ARTICLE >>