Long Island distributor embezzlement case: Credit supervisor pleads guilty to stealing $1.6 million to fund wedding and lavish lifestyle
Greenville, S.C., man Tony Ream pleads guilty to wire fraud for siphoning funds from a Melville-based health care distributor; repayment of $1.6 million and potential prison time up to 20 years.
A Long Island-based health care products distributor said a former credit supervisor pleaded guilty to wire fraud for siphoning about $1.6 million from the company to fund his wedding, overseas travel and a failed restaurant venture. Tony Ream, 34, of Greenville, South Carolina, admitted in federal court that he moved funds from the company's customer-refund accounts to his own account between October 2020 and November 2024, then labeled the transfers as customer refunds to conceal the theft.
Prosecutors said the embezzlement began in October 2020 and continued through November 2024, with Ream directing money from customer refunds into his personal accounts and disguising the transfers by labeling them as refunds. In a plea agreement, Ream admitted to siphoning more than $1.6 million and using the money for a wedding, luxury international travel and renovations to a restaurant he opened. "Ream abused his authority and betrayed his employer and its customers to fund his own lavish lifestyle," U.S. Attorney Nocella said in a statement.
The employer, referred to in court filings as the Company, is based in Melville, New York, and prosecutors described it as "an American distributor of health care products and services." Ream was hired in 2019 as a credit supervisor. As part of the plea, he agreed to repay the stolen money and faces up to 20 years in prison.
The government said the scheme spanned from October 2020 through November 2024, with each wire transfer marked as a customer refund to conceal the fraud. Investigators traced the activity to Ream's control over refunds and the company's accounting records, revealing a pattern of transfers redirected to his personal accounts.
This case underscores the risk of internal embezzlement and highlights the importance of internal controls and regular auditing of refund and payment processes. The company has not named a specific client base, but officials noted the impact on customers who rely on timely and accurate refunds and payments.
Sentencing has not been scheduled, but prosecutors noted Ream could face a lengthy prison term and restitution. In addition to potential incarceration, the plea agreement requires him to repay the full amount ($1.6 million) to his former employer.
The case continues the federal crackdown on white-collar crime in the New York area, underscoring the ongoing risk of embezzlement by employees who handle refunds and other sensitive financial transactions.
