A Texas man who siphoned millions of dollars from his employer to pay off tens of thousands of dollars in student loan debt and fund substantial internet gambling has pleaded guilty to federal embezzlement charges, prosecutors said.
Mitchell David Slentz, 34, of Kyle, pled guilty in federal court to stealing more than $3.2 million from Austin Freight Systems, according to the United States Attorney’s Office for the Western District of Texas.
According to prosecutors, Slentz had broad authority for Austin Freight Systems’ finances, including managing accounting operations, supervising financial reporting and internal controls, and handling vendor payment requests filed to JPMorgan Chase.
Between October 2023 and March 2025, Slentz made 147 fraudulent payments into his personal accounts via interstate wire transfers, totaling $3,277,937.35. He utilized some of the stolen funds to make two student loan payments: $25,000 and $33,887. He also bet heavily on an internet site, depositing and earning over $1 million, according to the United States Attorney’s Office.
Slentz was charged on May 14, appeared on June 8, and pled guilty on Monday to wire fraud and engaging in monetary transactions using criminally obtained proceeds.
A federal judge will sentence Slentz based on the United States Sentencing Guidelines and statutory criteria.
The FBI Austin White Collar Crime Task Force conducted the investigation.
Leave a Reply