Executive admits stealing

January 15, 1994|By Michael James | Michael James,Staff Writer

A former business executive pleaded guilty yesterday in U.S. District Court to laundering $1.3 million that he stole over a

four-year period from two companies, federal prosecutors said.

Much of the money taken by Jules H. Goodman, 33, of the 8600 block of Hayshed Lane in Columbia was placed in Maryland bank accounts under fictitious names and later transferred to a Swiss bank, prosecutors said.

Goodman, who pleaded guilty to money laundering before U.S. District Judge Benson E. Legg, could be sentenced to 10 years (( in prison and fined $250,000.

As part of the plea, he agreed to make restitution to his former employers, Pulsar Data Systems Inc. in Lanham and Media Materials Inc. in Baltimore.

While assistant controller at Pulsar, a supplier of microcomputer network systems and office-automation services, Mr. Goodman took checks made payable to the company and deposited them in accounts he controlled, a federal complaint said.

The signatures of top executives had been forged on the checks, the complaint said. Many of the checks were rebates from suppliers.

Goodman embezzled $777,000 from Pulsar before he resigned May 21, 1993. He was arrested eight days later at a parking garage in the 100 block of E. Pratt St.

The FBI found that some of the checks written on his bogus accounts were deposited at a bank in Zurich.

No information was available on whether any money has been recovered. Goodman began working for Pulsar Data in April 1992.

The company last year was 15th among Black Enterprise magazine's Top 100 black-owned companies.

His previous employer, Media Materials Inc. of the 100 block of Kane St., lost more than $535,000, prosecutors said.

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