Former CFO of Racepoint Global charged with embezzling $3.6m

From Boston Globe, “The former chief financial officer of Boston public relations firm Racepoint Global has been charged with embezzling more than $3.6 million from the company. Edward J. Abell III, 44, of Gloucester, was charged with wire fraud and money laundering, and is scheduled to appear in Boston federal court on Thursday. The federal complaint says that between 2006 and 2016, Abell embezzled from Racepoint, transferring the money to Pinehurst Tax Associates, a company Abell owned. Federal officers have seized several of Abell’s assets, including a 2015 Porsche SUV, a 2015 Ford F-350 Super Duty, and an E*TRADE brokerage account.”

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