Providence Forge man federally charged with defrauding company of $4.8 million
A Providence Forge man has been arrested stemming from a federal charge being pursued by the United States Department of Justice for stealing nearly $5 million in money.
John Hunter Raines, 38, was arrested on Aug. 22 on the fraud charge according to the press release.
Raines allegedly stole money while working as a chief financial officer at the Virginia Birth-Related Neurological Injury Compensation Program. Documents allege the defendant stole $4.8 million over a 22-month period, using his position as he oversaw funding of programs. Raines allegedly had access to several fund accounts of the company and made transfers to his personal account nearly 60 times, using those money to buy items including a truck, student loans, and gambling at locations including Colonial Downs Racetrack in New Kent.
No further information has been released about the case against Raines at this time.