Executive, Poker Player Guilty in $22 Million Embezzlement Plot

A former Hollywood marketing executive pleaded guilty to his role in a $22 million scheme to embezzle funds from his company and use them for cryptocurrency he would in turn use for professional poker buy-ins, federal prosecutors announced.

Dennis Blieden, previously vice president of accounting and finance for a digital marketing firm called StyleHaul, copped to one count of wire fraud and one count of aggravated identity theft. The guilty plea comes about four months after he was arrested for allegedly stealing millions from the company, which represents influencers on YouTube and Instagram.

Blieden, who had control over StyleHaul’s bank accounts, allegedly wired company money into his personal accounts and used it for cryptocurrency and other expenses.

“To conceal his scheme, Blieden made fraudulent entries in StyleHaul’s accounting records, falsely representing that the illegal wire transfers he made were authorized payments of money due to StyleHaul clients,” officials for the U.S. Justice Department said.

Blieden was further accused of taking additional steps to cover up his crimes, including claiming that the wire transfers were “equity” draws that he was owed. He also created falsified wire transfer letters that purported to be from Western Union, as well as a fictitious lease for a condo in Mexico, according to prosecutors.

Blieden allegedly used the money to pay millions of dollars to poker players and to pay off credit cards.

The defendant is scheduled to be sentenced March 20, when he will face a maximum of 20 years in prison.

Blieden is represented by Kaufman Law Group.

The case is United States v. Blieden, C.D. Cal., No. 2:19-cr-00399, defendant sentenced 11/22/19.