BOSTON — An attorney working as a bookkeeper for three Massachusetts companies has been arrested and charged with embezzling at least $2.5 million from the companies, the U.S. Attorney said Wednesday.
David Smerling, 74, of Lexington, was charged by complaint with wire fraud. He was arrested Tuesday and released on conditions, Acting U.S. Attorney Josh Levy said in a statement.
According to court documents, between January 2016 and May 2020, Smerling allegedly embezzled from the companies by transferring funds from the companies’ bank accounts to accounts in his name.
To conceal his scheme, Smerling allegedly transferred some funds through an intermediary account owned by one of the victims before transferring funds to his accounts, Levy said.
The complaint also alleges that Smerling had bank statements mailed to his home address, rather than the victims’ addresses, to further hide his conduct.
The charge of wire fraud provides for a sentence of up to 20 years in prison, three years of supervised release, and a fine of up to $250,000 or twice the gross gain or loss.
This is a developing story. Check back for updates as more information becomes available.
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