A Baton Rouge man pleaded guilty to a charge of wire fraud and tax fraud for stealing $937,658 from the New Orleans Firefighters Pension and Relief Fund says the Department of Justice.
According to the DOJ. Wayne Triche, 72, managed a portion of the pension fund and embezzled the money for his personal expenses such 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 taxes due and owing to the Internal Revenue Service for $329,895.
Triche became the manager of the NOFPRF in 2007 which was held in a Gulf Coast Bank & Trust checking account he he was trusted to manage after the previous fund manager passed away. Since then, federal prosecutors say from 2009 until 2017, the pension fund paid $4.9 million through twelve pension policies. Of that amount, Triche paid two million dollars in investment funds back into the pension fund account, but took $937,658 without authority for his own personal use.
“Today’s guilty plea sends a clear message that individuals like Mr. Wayne Triche who engage in financial fraud will be discovered and held accountable. The FBI is determined to identify, investigate, and bring to justice those who are committing financial crimes to enrich themselves at the expense of others,” 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 for their strong partnership and unrelenting pursuit of justice.”
As to the wire fraud charge, Triche faces a maximum of 20 years in prison, a fine of up to $250,000, and up to three years of supervised release when he is sentenced. As to the tax fraud, he faces a maximum prison time of three years, a fine of up to $100,000.