A former Raketech employee has landed a four-year prison sentence after he was found guilty of embezzling money from his former employer. The man was also ordered to return some of the money and was prohibited from accessing public funding.
The Man Reportedly Exploited His Position to Embezzle Money
According to a report by Times of Malta, Jonathan James Borg, a former Raketech employee, abused his position to siphon client money into a personal account. Over several months, he embezzled EUR 13,164.27, according to court documents.
Borg joined Raketech in December 2017. His fraudulent activity was first suspected in July 2019 when company officials noticed that payments from Video Slots did not reach their target Raketech bank account.
After following the money’s trail, Raketech employees learned that the money had been disappearing into a Revolut account held by Borg. He was quickly reported and the police soon investigated the matter and learned that Borg would almost immediately withdraw the redirected deposits. The man later admitted that he knew about some of the transactions but insisted that he was unaware of others.
After examining his Revolut account, the police were, at first, unable to find the Video Slots transactions. They later learned that the transactions had been hidden.
Borg Violated a Freezing Order and the Terms of His Bail Conditions
According to Times of Malta’s report, Borg tried to argue that he never withdrew the money. However, the court insisted that there had been substantial evidence to find Borg guilty of fraud. The man was slammed with a variety of charges, such as acquiring money by false pretenses, fraudulent gain, unlawful access to a computer, and money laundering.
He was later charged with violating a freezing order, as well as the terms of his bail conditions.
Borg was reportedly sentenced to four years in prison. He was also required to forfeit a EUR 10,000 deposit, as well as a EUR 75,000 personal guarantee in favor of the government. The man was also ordered to repay Video Slots EUR 13,164.27, or face a similar fine.
Additionally, the court has asked for Borg to be permanently prohibited from accessing public funding, including tender processes, grants and concessions. He will also be excluded from practicing commercial activities. Borg will furthermore be unable to run for elected or public office for five years after serving his sentence.
Last but not least, Borg will have to pay EUR 545.74 in court expenses.