The U.S. Department of Justice secured a guilty plea from James Vincent Campbell, founder and CEO of Axim Fringe Solutions Group LLC, for embezzling more than USD 8.8 million intended for health insurance premiums and 401(k) contributions. Campbell pleaded guilty in the District of Maryland to one count of theft from an Employee Retirement Income Security Act benefit plan. Between 2015 and 2024, Campbell made 135 unauthorized withdrawals totaling USD 2.49 million from a master trust account holding client funds. After moving Axim from Maryland to Arizona in January 2022, he continued the scheme by secretly charging clients as much as five times the fees they owed. He used a significant portion of the proceeds for personal expenses, including hunting trips, jewelry and gambling. Campbell faces a maximum sentence of five years in prison. A federal judge will determine the sentence after considering the U.S. Sentencing Guidelines and other statutory factors.
U.S. Department of Justice secures guilty plea in USD 8.8 million employee benefit plan theft
The U.S. Department of Justice secured James Vincent Campbell’s guilty plea for stealing more than USD 8.8 million intended for employee health insurance premiums and 401(k) contributions. The Axim Fringe Solutions Group founder and CEO faces up to five years in prison.