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Delaware accountant accused of embezzling almost $3 million

June 9, 2017

WILMINGTON, Del. (AP) — A Delaware accountant has been indicted by a federal grand jury on charges of embezzling almost $3 million from a trust.

Fifty-four-year-old Donald Rice of Middletown made an initial court appearance Thursday on charges of wire fraud, bank fraud, money laundering and violating tax laws.

Prosecutors allege that between 2013 and 2015, Rice embezzled almost $3 million dollars from a trust created to pay the tax obligations of a dissolving company.

The indictment also alleges that Rice previously defrauded another client, misappropriating $100,000 while purportedly providing estate-planning services. Prosecutors say that after the woman died, Rice, the executor of her estate, continued to collect her pension payments and used the funds for his personal benefit.

A federal public defender did not immediately return an email seeking comment Friday.

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