Bryan Sherbacow, 55, the founder and former CEO of a sustainable fuel company, was sentenced to three years in prison for embezzling at least $5.9 million and defrauding investors of approximately $15 million. Between 2021 and 2022, Sherbacow transferred company funds without authorization to his personal bank account and made unauthorized personal expenditures. He concealed his actions by emailing altered bank statements and falsified financial records to the company’s outside accounting firm and board members. The embezzled funds were used for personal expenses, including luxury vehicles, art auction payments, personal tax liens, credit card payments, rent, a beach club membership, electronics, and a down payment on a condo. Sherbacow also defrauded investors by sending altered bank statements and falsified financial records, making it appear the company had more cash than it did. These fabricated documents led three investors to collectively invest approximately $15 million. Sherbacow misled investors and a lender about the company’s financial state, relying on false information to secure funds. He pleaded guilty to wire fraud on February 8. The case was investigated by the FBI Washington Field Office and DCIS Charleston Resident Agency, and prosecuted by Trial Attorney Kyle Crawford of the Criminal Division’s Fraud Section.
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