A shocking case of alleged financial misconduct has emerged from Maryland, where federal prosecutors have unsealed an indictment against a Scottsdale, Arizona man accused of embezzling millions from an employee benefits program.
Alleged Theft from Employee Benefit Plan
The indictment charges 47-year-old James Vincent Campbell, CEO and founder of Axim Fringe Solutions Group, LLC, with stealing over $2.4 million from an Employee Retirement Income Security Act (ERISA) benefit plan.
Campbell’s company, Axim, which manages employee benefits for workers of federal contractors, was headquartered in Maryland during the period of the alleged wrongdoing.
How the Scheme Unfolded
Court documents claim that Axim received funds from its clients to cover health insurance premiums and 401(k) contributions.
The company was supposed to forward those payments directly to insurance carriers and retirement accounts, while collecting a $40 monthly service fee per employee.
Instead, Campbell allegedly diverted money from these funds into a master trust account and made 135 unauthorized withdrawals totaling nearly $2.5 million between 2015 and 2024.
Lavish Spending Allegedly Funded by Stolen Money
The indictment suggests that Campbell used much of the embezzled money for personal indulgences.
This included extravagant hunting trips in Alaska and Africa, taxidermy expenses, jewelry purchases, casino gambling, and even direct payments to his girlfriend.
Charges and Potential Penalties
Campbell faces one count of theft from an ERISA plan and eleven counts of money laundering.
If convicted, he could face up to ten years in prison for each money laundering count and up to five years for the theft charge.
The final sentence will be determined by a federal judge considering U.S. Sentencing Guidelines and other legal factors.
Federal Agencies Involved
The announcement was made by Acting Assistant Attorney General Matthew R. Galeotti of the Justice Department’s Criminal Division and Acting Assistant Secretary Janet Dhillon of the Labor Department’s Employee Benefits Security Administration.
The Labor Department’s Employee Benefits Security Administration is investigating the case, while Justice Department trial attorneys Vincent Falvo and Jared Hernandez are handling the prosecution.
Presumption of Innocence
It’s important to remember that an indictment is only an allegation.
Campbell, like all defendants, is presumed innocent until proven guilty beyond a reasonable doubt in a court of law.
