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Man pleads guilty to taking $1.9M from North Carolina school

August 7, 2018

WINSTON-SALEM, N.C. (AP) — Prosecutors say a man has pleaded guilty after they say he created a fake company and posed as a construction company worker to steal almost $2 million from a North Carolina university.

The U.S. Department of Justice says Ho Shin Lee of Los Angeles pleaded guilty in federal court to money laundering.

Prosecutors said Lee opened a bank account in 2016 in the name of a company of which he claimed to be president and sole account holder. That year, Appalachian State University awarded a contract to erect a new health sciences building.

A school employee received a fraudulent e-mail with instructions to change previously submitted banking information to Lee’s new bank account. It’s believed he transferred the $1.9 million to conceal it.

Lee pleaded guilty last Thursday.

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