Iowa City Man Sentenced To Over 3 Years In Prison For Embezzling Millions

Euan MacGregor, previously known as David Bean, has been sentenced to 41 months in federal prison and ordered to repay millions of dollars to his former employer.

Last week in Sacramento, California, a judge handed down a sentence to him. He had already admitted to embezzling $3.2 million. The judge also ordered that he serve 36 months of supervised release following his imprisonment and repay $3,217,456.41 to the victim.

A press release reveals that MacGregor, who was known as David Bean at the time, served as the Chief Administrative Officer for his employer from November 2014 to January 2020. The release does not disclose the name of his victim.

In June 2024, MacGregor was appointed as the new CEO of Virginia Gay Hospital in Vinton, as reported by TV9 in August 2024. However, by August, the hospital’s Board of Directors announced that MacGregor was no longer working at the hospital.

The release reveals that he redirected a minimum of 122 checks to his personal bank accounts through a shell corporation that closely resembled his employer’s business name. Subsequently, he provided forged documents to his employer in an attempt to conceal the embezzled funds.

He informed his employer that he was delegating booking tasks to an external party, but in reality, he had set up a shell company named Essential Business Services, which he owned and managed. His employer then made monthly payments of thousands of dollars to this fictitious company for services that were never actually carried out.

MacGregor spent the stolen money on personal expenses for himself and his family. This included covering mortgage payments, credit card bills, education costs, travel expenses, and purchasing vehicles.

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