Man Spent Millions From Fraud On 'Game Of War,' Luxury Cars, Sports Tickets
SACRAMENTO (CBS13) — A multi-million dollar wire fraud and money laundering case in Sacramento is settled.
Kevin Co pleaded guilty to eight counts of wire fraud and three counts of money laundering after he was caught stealing from his then employer, Holt of California.
"He was a great guy," said former neighbor Joe Dillingham.
By most accounts, Kevin Lee Co was a friendly neighbor when he lived in North Natomas for 10 years.
"He'd play fetch with the dogs here in the court," said Dillingham, " [He] had two girls and my kids were friends with his daughters."
Neighbors say Co moved to Rocklin at about the same time his income began to sky-rocket.
"Never suspected anything like that, never had a clue," said Dillingham.
Co plead guilty to stealing from his former company Holt of California.
His biggest expense, $1 million for in-app purchases on the mobile game Game of War.
He also spent a half a million dollars on luxury cars and $250,000 on season tickets to the San Francisco 49ers and the Sacramento Kings.
Co spent thousands more on landscaping to his home in Rocklin, membership to Whitney Oaks Golf Club, and plastic surgeries.
In all, Co racked up $4.5 million in six years.
"We're pleased with him going to jail and justice will be done in that regard," said Ken Monroe, the CEO and President of Holt of California.
He says there were no red flags when Co was hired in 2006.
Co managed the accounting department at Holt. He had full access to the company's finances and he used a company credit card as his personal ATM.
"We made some significant control changes in our accounting functions," said Monroe.
Co fueled his lifestyle with his employer's money and is now forced to pay it all back.
"I feel bad for his kids," said Dillingham, "he's probably going to have to go away for a little while."
Co will be sentenced in the spring. He faces a maximum penalty of 20 years in prison and a $250,000 fine.
According to the plea agreement, the U.S. District Attorney's office will recommend a sentence on the lower end of the range.
