Ex-oil exec who stole more than $2 million sent to prison
HOUSTON, TX -- A 46-year-old Katy man has been ordered to federal prison after he admitted to embezzling over $2 million from a local oil services company, announced U.S. Attorney Ryan. K. Patrick.
Robert Andrew Bishop pleaded guilty Oct. 14, 2020.
Today, U.S. District Judge Keith Ellison ordered him to serve a 41-month sentence to be immediately followed by two years of supervised release. At the hearing, the court heard additional testimony from the victim that detailed the extent and length of his theft, along with the devastating effects it had on her business. In handing down the sentence, Judge Ellison noted the length of the theft and Bishop’s violation of his employer’s trust.
Bishop was the vice president of resource management at International Professional Management (IPM), an oil services company located in Houston. As part of his duties, he was in charge of securing short term loans to cover IPM’s monthly operating capital.
At the time of his plea, 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.
The owners of IPM discovered his fraud scheme in August 2019.
Bishop was permitted to remain on bond and voluntarily surrender to a U.S. Bureau of Prisons facility to be determined in the near future.
The FBI conducted the investigation. Assistant U.S. Attorney Thomas Carter prosecuted the case.