Gulfstream accountant held in $8.5M theft scheme

Larry Flynn, left, president of Gulfstream Aerospace Corp., welcomes General Dynamics chairman and CEO Phebe Novakovic (AP Photo/Savannah Morning News, Steve Bisson)

LOS ANGELES (AP) — A convicted embezzler from Southern California was arrested on suspicion of plotting to steal $8.5 million from Gulfstream Aerospace Corp. to fund his lavish lifestyle.

FBI spokeswoman Laura Eimiller says Marvin Caukin of Calabasas was arrested Friday on charges of identity theft and conspiracy to launder money and commit mail fraud.

He appeared in federal court Friday but didn’t enter a plea and remains jailed.

Court papers say Caukin used friends and relatives to set up phony businesses that billed Gulfstream for services never performed.

Investigators say Caukin approved the payments and then was provided most of the proceeds.

His lawyer had no comment.

Caukin is a former oil company executive who was in federal prison from 1994 to 1997 for embezzling nearly $2.4 million from the company.

Comments are closed.