FBI: Man steals $1.2 million from employer, spends on women he met online

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A Cleveland Heights man is accused of defrauding his company out of more than a million dollars, and spending it on women he met online.

John H.C. Black, 56, was the former chief financial officer for Alotch Ltd., headquartered in Brooklyn, Ohio.

According to the FBI, Black spent more than $450,000 of the stolen money buying cars and making purchases at Louis Vuitton, Sak’s Fifth Avenue, Victoria’s Secret, Neiman Marcus and other stores for women he met on the website http://www.seekingarrangements.com.

Black started meeting women on the website in October of 2011.

The site matches younger women, around 20-30 years old, with rich, older men. The men agree to provide the women with cash and gifts in exchange for their companionship.

Black began using Alotech’s business checking account for his own spending in early 2011. He also encouraged the company’s CEO to get two corporate credit cards, one in Black’s name and the other in CEO’s name, in case of an emergency.

Between October of 2011 and August 2012, Black provided the women with cash and gifts that he fraudulently took from Alotech. The money paid for multiple vacations to Chicago and numerous purchases there. Black also bought two cars for one of the women he met on the site, including an Audi.

Black faces one count of wire fraud.