FLAGLER COUNTY, Fla. – A Palm Coast man who controlled payroll at a local construction company is accused of using that access to quietly funnel money into his own pockets for months — and investigators say he didn’t stop at just giving himself a raise.
Jimmy Paul Garcia Velez, 31, of Palm Coast, was arrested on a felony warrant after investigators say he exploited his role as a financial controller to steal more than $15,000 from his employer.
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How the alleged scheme worked
For approximately seven months, investigators say Garcia Velez continued collecting his own paycheck while redirecting the direct deposits of seven former employees into two of his own bank accounts.
On paper, those workers were still on the job. In reality, detectives say their checks were landing in Garcia Velez’s accounts.
The Sheriff’s Office says he also turned off his own health insurance payments, leaving the company covering 100% of his premiums.
Owner spots red flags
Deputies say the alleged scheme began to unravel when the company’s owner noticed discrepancies in the insurance numbers. Investigators with the Flagler County Sheriff’s Office General Assignment Unit say they subpoenaed bank records, and the money trail led back to Garcia Velez.
In total, he allegedly pocketed an additional $15,456.72.
Sheriff weighs in
“A promotion is something you earn through hard work and the trust of the people who sign your checks,” said Sheriff Rick Staly. “This double-dipper was a financial controller with no self-control who decided he’d rather embezzle a raise than earn one.”
Arrest, charges
The Sheriff’s Office Fugitive Unit located Garcia Velez and arrested him on a felony warrant. He faces charges of organized scheme to defraud and grand theft.
Garcia Velez was transported to jail, where he was later released on a $10,000 bond.