Alabama Accounting Manager Agrees to Plea Over Nearly $191,000 in Company Spending
Andrew W. Volkoff, an accounting manager at a Bessemer, Alabama firm, pleaded guilty to wire fraud after taking nearly $191,000 in unauthorized payments and card charges, WBRC reported.
Why it matters
What is described is a bookkeeping and internal-control failure at one small employer, traced through a payroll account and a company credit card, with no market, token or regulatory consequences in the report. Because only one outlet covers it, the verifiable detail is limited to that account of the prosecution's claims.
Key facts
Andrew W. Volkoff, who managed accounting at the Bessemer-based firm, entered a plea agreement in federal court to a single count of wire fraud.
Reported by The Daily Hodl
Prosecutors say Volkoff issued himself 12 unauthorized payments from the company payroll account, labeled as expense reimbursements, miscellaneous reimbursements or commissions, totaling $27,992.15 outside the regular pay cycles.
27,992.15 USDReported by The Daily Hodl
Volkoff ran $162,932.42 in personal charges on a company American Express card between January 2023 and June 2025.
162,932.42 USDReported by The Daily Hodl
The card charges included a down payment on a 2011 Mercedes-Benz and transfers through PayPal and Venmo.
Reported by The Daily Hodl
The combined unauthorized activity cost the employer $190,924.57 over about two and a half years.
190,924.57 USDReported by The Daily Hodl
Court filings name the business only as Business #1.
Reported by The Daily Hodl
A guilty plea on the charge carries up to 20 years in prison, a fine of up to $250,000 and as much as three years of supervised release, and no sentencing date has been set in the Northern District of Alabama case.
250,000 USDReported by The Daily Hodl
Volkoff told investigators in June 2025 that money problems drove the scheme and that he used the firm's credit card to enrich himself unjustly.
Reported by The Daily Hodl
What happened
The Daily Hodl, citing WBRC, reports that Andrew W. Volkoff, who handled accounting at a Bessemer, Alabama company, entered a plea agreement in federal court on a single count of wire fraud. Prosecutors say he issued himself 12 payments from the payroll account, labeled as expense reimbursements, miscellaneous reimbursements or commissions, totaling $27,992.15, and ran $162,932.42 in personal charges on the company American Express card between January 2023 and June 2025, including a down payment on a 2011 Mercedes-Benz and transfers through PayPal and Venmo. The two streams together cost the employer $190,924.57 over about two and a half years. Volkoff told investigators in June 2025 that money problems drove the scheme and that he used the firm credit card to enrich himself unjustly, court filings name the business only as Business #1, and no sentencing date has been set in the Northern District of Alabama case. A guilty plea on the charge carries up to 20 years in prison, a fine of up to $250,000 and as much as three years of supervised release. Every figure here comes from that single outlet, so the account rests on one report of the court filings.
How the story developed
- First report
First report by The Daily Hodl
Alabama Company Loses Nearly $191,000 After Accounting Manager Diverts Funds, Splurges on Personal Expenses and a Luxury Car
- Update
Single outlet reports the federal plea agreement
The Daily Hodl published the account, citing WBRC, that Volkoff entered a plea agreement on a wire fraud charge tied to $190,924.57 in employer losses.
- Official statement
Guilty plea recorded in the Northern District of Alabama with no sentencing date set
The report states the plea carries up to 20 years in prison, a fine of up to $250,000 and up to three years of supervised release.
Affected entities
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| The Daily Hodl Crypto media | Alabama Company Loses Nearly $191,000 After Accounting Manager Diverts Funds, Splurges on Personal Expenses and a Luxury Car | Original |
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