James Vincent Campbell, 49, of Scottsdale, Arizona, pleaded guilty today in the District of Maryland to embezzling more than $8.8 million from an Employee Retirement Income Security Act (ERISA) benefit plan.
“Workers have a right to trust that when they contribute portions of their hard-earned wages into their health insurance and retirement accounts, those contributions will go to where they were intended – their health plans and 401(k) accounts,” said Assistant Attorney General A. Tysen Duva of the Department of Justice’s Criminal Division. “Instead, James Vincent stole directly from these accounts by embezzling funds and putting more than $8 million into his own pocket. The Criminal Division is proud to partner with the Department of Labor to uncover and prosecute this fraud.”
“Private pensions make up a large portion of Americans’ wealth,” said Assistant Secretary of Labor for Employee Benefits Security Daniel Aronowitz. “The U.S. Department of Labor Employee Benefits Security Administration (EBSA) will continue to pursue those who try to steal pension assets as part of its efforts to prevent and fight fraud committed on both pension and healthcare plans. EBSA is grateful for the continued relationship with the DOJ in prosecuting pension fraud.”
According to court documents, Campbell is the CEO and founder of Axim Fringe Solutions Group LLC (Axim), a company that processes employee benefits for employees of federal contractors. At the time the theft began, the company was headquartered in Maryland. In January 2022, Campbell moved Axim to Scottsdale, Arizona, where he continued his fraud.
According to the court documents, Axim’s clients sent funds to the company to pay for health insurance premiums and 401(k) retirement contributions. Axim was responsible for forwarding those funds to insurance carriers and retirement accounts. Before forwarding the funds, Campbell allegedly pooled them in a master trust account. Between 2015 and 2024, he made 135 unauthorized withdrawals – totaling $2,486,905 – beyond the legitimate fees owed to Axim. Campbell used a significant portion of the stolen funds for personal expenses including big game hunting trips in Alaska, Africa, and other locations; taxidermy fees; jewelry; casino gambling; and direct payments to his girlfriend. Once Campbell relocated Axim to Arizona, he continued the thefts by secretly charging clients up to five times the amount of fees they owed to Axim. In sum, Campbell unlawfully converted more than $8.8 million from Axim’s clients using both withdrawals from the master account and repetitively charging client fees.
The information to which Campbell pleaded guilty charges him with a single count of theft from an ERISA plan. He faces a maximum penalty of five years in prison. Federal District Judge Lydia Kay Griggsby will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.
EBSA investigated the case.
Trial Attorney Vincent Falvo of the Criminal Division’s Violent Crime and Racketeering Section is prosecuting the case.