A federal judge has sentenced 72-year-old Wayne Triche of Baton Rouge, to three years in federal prison after pleading guilty to embezzling nearly $1 million from the New Orleans Firefighters Pension and Relief Fund.
According to the Department of Justice, on Tuesday United States District Court Judge Greg Guidry sentenced him after he pled guilty to wire fraud and tax fraud.
Court documents say Triche was responsible for managing a portion of the New Orleans Firefighters Pension and Relief Fund’s investments.
Prosecutors say rather than return the profits earned to the NOPRF, Triche embezzled approximately $937,658.77 from the fund and used the money for personal expenses such as a civil court judgment, credit card charges, and gambling.
The tax fraud charges stem from Triche’s failure to claim the embezzled funds on his personal income tax returns, resulting in tax due and owing to the Internal Revenue Service in the amount of $329,895.00.
“Today’s sentencing demonstrates that individuals like Mr. Wayne Triche who commit financial crimes to enrich themselves will be held accountable,” said FBI New Orleans Special Agent in Charge Douglas A. Williams, Jr. “We thank our partners at the United States Attorney's Office Eastern District of Louisiana and Internal Revenue Service-Criminal Investigation for helping disrupt fraud and bringing justice to the victims.”
"Today's sentencing exemplifies the patience and long arm of the law in its pursuit of financial fraud and criminal tax violations," said James E. Dorsey, Special Agent in Charge of IRS-CI’s Atlanta Field Office. "Mr. Wayne Triche perpetuated an elaborate scheme driven by his insatiable greed and a blatant disregard for the tremendous damage inflicted on the New Orleans Firefighters Pension and Relief Fund and its members. Be assured that IRS Criminal Investigation, together with our federal partners, will hold those who engage in similar behavior fully accountable."
