Itasca man facing federal fraud charges
A 51-year-old Itasca man was arrested Thursday on federal fraud charges alleging he bilked his employer out of nearly $1 million by paying an outside vendor for work that was never done.
Prosecutors said the vendor would receive the funds and return much of the proceeds back to David Tresch, who served as chief information officer for a Chicago-based international law firm.
Tresch is accused of paying the unidentified Schaumburg vendor $980,000 between May 2011 and May 2012. The vendor repaid Tresch $854,250 during that same time.
Prosecutors said the vendor, which had worked for Tresch's law firm since 2004, had been paid $7.8 million throughout the duration of the contract. However, in February 2011 Tresch was ordered to stop using the vendor's service, though Tresch continued to approve payments to the vendor. The vendor provided personnel and technology to assist the firm in office automation, website services and database development, according to the federal complaint.
According to court papers, Tresch received another $1.3 million from the vendor starting in 2004 and never disclosed a financial interest in the vendor company to his employer. He has not been charged with any wrongdoing for accepting those funds, but officials from the U.S. attorneys office said the investigation into those financial dealings in ongoing.
No charges have been filed against anyone employed by the vendor firm either, but officials said an investigation is ongoing, as well.
The FBI seized $210,000 in bank accounts from Tresch along with a camping trailer, van and car. Authorities have also been authorized to seize a mobile home belonging to Tresch, prosecutors said.
Tresch is facing a maximum of 20 years in prison if convicted. He is free after posting 45 percent of a $100,000 bond. His next court date is slated for Sept. 5.
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