Please ensure Javascript is enabled for purposes of website accessibility
Feds Allege Clovis CPA Stole $1 Million From Wells Fargo
bill-new-mug-002
By Bill McEwen, News Director
Published 3 years ago on
October 13, 2021

Share

A federal grand jury has indicted Kenneth Gould, 65, of Clovis, charging him with bank larceny for stealing more than $1 million from Wells Fargo Bank.

Gould was indicted on Oct. 7, and Acting U.S. Attorney Phillip A. Talbert announced the charges on Wednesday in a news release.

Gould will be arraigned on Thursday, federal officials said.

Gould faces a maximum prison sentence of 10 years in prison and a fine of up to $1 million if he is convicted.

How the Alleged Fraud Worked

According to court documents, Gould is a CPA who owned and operated Paytech Payroll. From October 2017 through March 2018, he initiated more than 90 fraudulent payments via electronic transfers totaling over $20 million from one of his clients’ accounts to his payroll company’s account at Well Fargo Bank.

Based on its prior business relationship with Gould, the bank credited the fraudulent payments to the payroll company’s account before it realized there were insufficient funds to cover the payments, deny them, and attempt to recover its money, court documents state.

Over $1 million of the credited funds, however, was gone because Gould withdrew the money while the payments were pending. Gould withdrew the money in cash, cashier’s checks, and online transfers to other accounts to which he had access. The bank made several demands to Gould for repayment. He repeatedly failed to fulfill promises to repay the funds, according to the indictment.

The FBI investigated the case, and Assistant U.S. Attorney Joseph D. Barton is the prosecutor.

 

RELATED TOPICS:

DON'T MISS

A Fresno Edition of Monopoly? That’s Capitalism at Work, Baby!

DON'T MISS

California Officials Sue Huntington Beach Over Voter ID Law Passed at Polls

DON'T MISS

Indiana Fever Receives No. 1 Overall Draft Pick Caitlin Clark

DON'T MISS

Which Fresno Restaurants Are Best? The Pros Picked These Places.

DON'T MISS

Trump’s Historic Hush-Money Trial Gets Underway; 1st Day Ends Without Any Jurors Being Picked

DON'T MISS

Fresno-Madera United Way Launches National Search for New CEO

DON'T MISS

Justice Thomas Misses Supreme Court Session Monday With No Explanation

DON'T MISS

‘Civil War’ Declares Victory at the Box Office, Toppling ‘Godzilla X Kong’

DON'T MISS

Why Tortillas Sold in California May Be Forced to Add a New Ingredient

DON'T MISS

Costco Tries Again at City Council for Big NW Fresno Move

UP NEXT

Indiana Fever Receives No. 1 Overall Draft Pick Caitlin Clark

UP NEXT

Which Fresno Restaurants Are Best? The Pros Picked These Places.

UP NEXT

Fresno-Madera United Way Launches National Search for New CEO

UP NEXT

Justice Thomas Misses Supreme Court Session Monday With No Explanation

UP NEXT

‘Civil War’ Declares Victory at the Box Office, Toppling ‘Godzilla X Kong’

UP NEXT

Why Tortillas Sold in California May Be Forced to Add a New Ingredient

UP NEXT

Costco Tries Again at City Council for Big NW Fresno Move

UP NEXT

Scheffler Turns the Masters Into Another Sunday Yawner With a Dominating Win

UP NEXT

Ethiopia’s Lemma Wins, Fresno’s Albertson 7th in Boston Marathon. Kenya’s Obiri Retains Women Title.

UP NEXT

Vegas, US Tour and More Signings: Wrexham Has Plenty of Fun and Work Ahead After Latest Promotion

Bill McEwen,
News Director
Bill McEwen is news director and columnist for GV Wire. He joined GV Wire in August 2017 after 37 years at The Fresno Bee. With The Bee, he served as Opinion Editor, City Hall reporter, Metro columnist, sports columnist and sports editor through the years. His work has been frequently honored by the California Newspapers Publishers Association, including authoring first-place editorials in 2015 and 2016. Bill and his wife, Karen, are proud parents of two adult sons, and they have two grandsons. You can contact Bill at 559-492-4031 or at Send an Email

Which Fresno Restaurants Are Best? The Pros Picked These Places.

6 hours ago

Trump’s Historic Hush-Money Trial Gets Underway; 1st Day Ends Without Any Jurors Being Picked

6 hours ago

Fresno-Madera United Way Launches National Search for New CEO

Local /

7 hours ago

Justice Thomas Misses Supreme Court Session Monday With No Explanation

8 hours ago

‘Civil War’ Declares Victory at the Box Office, Toppling ‘Godzilla X Kong’

8 hours ago

Why Tortillas Sold in California May Be Forced to Add a New Ingredient

8 hours ago

Costco Tries Again at City Council for Big NW Fresno Move

10 hours ago

Scheffler Turns the Masters Into Another Sunday Yawner With a Dominating Win

10 hours ago

Ethiopia’s Lemma Wins, Fresno’s Albertson 7th in Boston Marathon. Kenya’s Obiri Retains Women Title.

10 hours ago

Vegas, US Tour and More Signings: Wrexham Has Plenty of Fun and Work Ahead After Latest Promotion

10 hours ago

A Fresno Edition of Monopoly? That’s Capitalism at Work, Baby!

Alright, cats and kittens, straphang onto your beanies because I’m about to lay a news flash on you that’s so whimsically wild it coul...

5 hours ago

Fresno Monopoly Edition
5 hours ago

A Fresno Edition of Monopoly? That’s Capitalism at Work, Baby!

5 hours ago

California Officials Sue Huntington Beach Over Voter ID Law Passed at Polls

5 hours ago

Indiana Fever Receives No. 1 Overall Draft Pick Caitlin Clark

6 hours ago

Which Fresno Restaurants Are Best? The Pros Picked These Places.

6 hours ago

Trump’s Historic Hush-Money Trial Gets Underway; 1st Day Ends Without Any Jurors Being Picked

Local /
7 hours ago

Fresno-Madera United Way Launches National Search for New CEO

8 hours ago

Justice Thomas Misses Supreme Court Session Monday With No Explanation

8 hours ago

‘Civil War’ Declares Victory at the Box Office, Toppling ‘Godzilla X Kong’

MENU

CONNECT WITH US

Search

Send this to a friend