Former Presidio Title C.F.O. Admits Stealing from Company

In San Antonio, Joseph P. Karpowicz, 47-year-old former Chief Financial Officer for Presidio Title (Presidio), admitted to stealing over $367,000 from the San Antonio real estate title company announced United States Attorney Richard L. Durbin, Jr. 

Appearing this morning before United States Magistrate Judge Henry Bemporad, Karpowicz pleaded guilty to one count of mail fraud and one count of engaging in financial transactions with criminally derived proceeds.

According to court records which the defendant admitted were factually correct, Karpowicz schemed to steal approximately $367,300 from Presidio between April 2010 until June 2013.  Karpowicz issued Presidio checks to pay for his own personal expenses and credit card bills, then created materially false entries in Presidio’s records in order to hide his fraudulent conduct.

Karpowicz remains on bond pending sentencing scheduled for 1:30pm on November 16, 2016, before United States District Judge Xavier Rodriguez.   Karpowicz faces up to 20 years on the mail fraud charge and up to ten years in federal prison on the money laundering charge.

This investigation was conducted by the United States Secret Service Identity Theft Task Force together with the Internal Revenue Service-Criminal Investigation.  Assistant United States Attorney Thomas P. Moore is prosecuting this case on behalf of the Government.