WASHINGTON, D.C. (WRIC) – A former CEO pled guilty this week to stealing over $300,000 from a nonprofit organization and is now facing up to 20 years in prison.
Graham Hauck, 50, of Chevy Chase, Maryland, pleaded guilty on Wednesday, May 10 to wire fraud after he stole more than $330,000 from a nonprofit trade organization in 2019.
According to court documents, Hauck was president and CEO of Hauck & Associates, Inc. (H&A), a trade association management firm based in Washington, D.C. During 2019, a nonprofit professional trade organization asked H&A to serve as its management company.
Between March and October of that year, Hauck stole roughly $336,222 from the victim organization by writing checks and initiating transfers from the victim organization to H&A. While the victim organization had agreed to pay H&A an annual management and headquarters fee of $148,475, Hauck’s checks and transfers far exceeded this amount.
The CEO lied to H&A employees who noticed the victim organization’s unusual activity and also made inaccurate balance sheets which showed that the victim organization had more money in its accounts than it actually had.
Hauck now faces a maximum of 20 years in prison. As part of his plea agreement, he also must Hauck must pay full restitution and will be held accountable for any future forfeiture payment.
He is scheduled to be sentenced on Sept. 14.