An indictment unsealed today in the District of Maryland charges an Arizona man with embezzling more than $2.4 million from an Employee Retirement Income Security Act (ERISA) benefit plan and related money laundering offenses.
According to court documents, James Vincent Campbell, 47, of Scottsdale, Arizona, is CEO and founder of Axim Fringe Solutions Group, LLC (Axim), a company that processes employee benefits for employees of federal contractors. At the time of the alleged thefts, the company was headquartered in Maryland.
The indictment alleges 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, charging clients a contractual fee of $40 per employee per month for its services.
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.
The indictment charges Campbell with a single count of theft from an ERISA plan and eleven counts of money laundering.
If convicted, Campbell faces a maximum penalty of ten years in prison for each count of money laundering and up to five years for theft from an ERISA plan. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.
Acting Assistant Attorney General Matthew R. Galeotti of the Justice Department’s Criminal Division and Acting Assistant Secretary Janet Dhillon of the Labor Department’s Employee Benefits Security Administration made the announcement.
The Employments Benefits Security Administration of the Labor Department is investigating the case.
Trial Attorneys Vincent Falvo and Jared Hernandez of the Justice Department’s Violent Crime and Racketeering Section are prosecuting the case.
An indictment is merely an allegation, and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.