HOUSTON – A 45-year-old Katy man has pleaded guilty to embezzling more than $2 million from a local oil services company, the U.S. Department of Justice announced Wednesday.
K. Patrick said in a news release that Robert Andrew Bishop was the vice president of resource management at International Professional Management (IPM), an oil services company located in Houston.
DOJ said he admitted he would inflate the loan amount needed and then divert the excess money to fake vendor accounts he controlled.
Over the span of approximately six years, Bishop diverted roughly $2.1 million from the company’s operating expenses, authorities say.
At that time, Bishop could face up to 20 years in federal prison and a possible $250,000 maximum fine.