A Bonney Lake man was sentenced to two years in prison and three years of supervised release today for embezzling more than $700,000 from the company that owns Hotel Murano in Tacoma.
Hugo Lingat Caingat Jr., 59, is a former controller of Aspen Lodging Group, and diverted more than $700,000 from the group to a dormant bank account from March 2010 to December 2011 during his employment there, according to the U.S. District Attorney’s Office.
He started working for the company in 2007, and as the regional controller, reconciled accounts payable and accounts receivable and oversaw transfers between the different hotels.
Caingat used the account to pay his gambling, credit card and other bills, according to prosecutors.
Court records show Caingat forged documents and signatures to divert the funds, and created duplicate invoices for inter-company payments, which he eventually routed into the account.
He was fired in December 2011, when the theft was discovered.
When federal agents interviewed Caingat at his home in May 2012, he told them he wanted to give them information about the diverted funds, according to the U.S. Attorney’s Office.
He flew to the Philippines with a one-way ticket instead, prosecutors said.
A grand jury indicted Caingat in July 2012. He returned to Washington voluntarily, after the process of extraditing him from the Philippines had started.
He pleaded guilty in October 2012.
Caingat was ordered today to pay $750,000 in restitution, which includes $50,000 the company spent to investigate the diverted funds.