PORTLAND, Maine — A former Richmond man pleaded guilty Friday in U.S. District Court to one count of bank fraud, according to the U.S. attorney’s office.
By pleading guilty, Howard Hoffman, 53, of Moorpark, California, admitted that in March 2008, one year after his childhood friend died while abroad, he began embezzling from his friend’s bank account, a news release issued Friday by the prosecutor’s office said.
Hoffman used his deceased friend’s personal identifying information to gain access to the friend’s bank account and change the address on the account to Hoffman’s residence in Richmond, the release said. Over the next few weeks, Hoffman caused two checks, totaling about $80,000, to be issued from his friend’s account and moved to a bank account of a company he controlled.
Sentencing has been set for Aug. 8 in federal court in Portland.
Hoffman, who was indicted a year ago, remains free on $5,000 unsecured bail.
He faces up to 30 years in prison and a $1 million fine.