A former Vanguard Group supervisor stole more than $2 million by taking money from dead or inactive customers’ accounts

Source: www.philly.com/business/vanguard-escheat-scott-capps-lance-tobin-us-attorney-bill-mcswain-stolen-dead-customers-20190315.html

Scott Capps of Coatesville pleaded guilty to conspiracy to commit mail fraud, two counts of money laundering, and two years of false tax returns on Thursday before U.S. District Judge Michael M. Baylson. Federal prosecutors said Capps, who worked for 23 years for the Malvern-based investment giant, more than tripled his income for 2013 at customers’ expense, with help from his brother-in-law and other accomplices.

… Capps was indicted by a federal grand jury in December, charged with drawing checks on Vanguard accounts between 2012 and 2014 using his employees’ stolen passwords.

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