Charles M. Ameer, the former chief financial officer of Milford-based Indeco North America, is facing federal charges for allegedly embezzling $890,000 from the company.
A federal grand jury in New Haven indicted Ameer, 64, on three counts of wire fraud, the Hartford Business Journal Reported.
Ameer, residing in Weston, pleaded not guilty during a recent court appearance before U.S. Magistrate Judge S. Dave Vatti and is free on a $500,000 bond. According to court documents, Ameer served as CFO at Indeco North America, a subsidiary of Indeco Ind. S.P.A, from 2017 through 2022.
Indeco North America specializes in supplying construction equipment such as excavators, pulverizers, and mulching heads for industries including building, demolition, and forestry.
The U.S. Attorney’s office stated that Ameer initiated his embezzlement scheme in October 2017 when he created a $40,000 check on Indeco’s account, payable to “WSC,” to reimburse the nonprofit Weston Soccer Club for funds he had previously taken without permission. Over the years, Ameer allegedly drafted about a dozen checks, totaling $850,000, payable to himself, which he deposited into his personal account for personal use.
Ameer, a certified public accountant, had joined Indeco in 2016 as a controller. In a 2023 FBI interview, he admitted to creating and depositing the checks, attributing his actions to financial difficulties and expressing an intent to repay Indeco over time, according to an FBI affidavit.
In May, the Manhattan District Attorney’s Office announced an expansion of its “Construction Fraud Task Force,” after cracking down on a wide-ranging construction industry fraud scheme.
Construction is an unregulated industry with little oversight, where overbilling, lack of transparency and kickbacks are not uncommon. Some of the city’s top general contractors — including AECOM Tishman, Plaza Construction, Hunter Roberts Construction Group and Lendlease — have paid millions in fines and penalties for major fraud charges over the last three decades.
— Ted Glanzer
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