PHOENIX — A Scottsdale man was indicted for allegedly stealing more than $2.4 million from a federal health insurance and retirement benefit plan, according to the U.S. Department of Justice (DOJ).
James Vincent Campbell, 47, was charged with 11 counts of money laundering and a charge of stealing from an Employee Retirement Income Security Act (ERISA) benefit plan, according to a DOJ announcement from earlier this month.
Campbell is the CEO and founder of Axim Fringe Solutions Group, which processes benefits for employees of government contractors.
The company worked as a middleman, charging a fee to government contractors, which then would be forwarded to insurance carriers and 401(k) retirement accounts, according to the DOJ.
Details on alleged theft from federal benefit plans
However, before sending the funds, the department said Campbell would pool the fees Axim received into one account, from which he allegedly stole $2,486,905.
According to the DOJ, between 2015 and 2024, Campbell made 135 unauthorized withdrawals from the account.
He allegedly used much of the money to pay for big game hunting trips, taxidermy fees, jewelry, gambling and direct payments to his girlfriend.
If convicted, Campbell faces a maximum of 115 years in prison (10 years for each money laundering count and five years for the theft count).
Previous investigation into misuse of federal benefit plan funds
This is not the first time that Campbell and his company have come under investigation by the federal government for allegedly misusing ERISA funds.
In 2024, Campbell and Axim’s then-director of compliance accounting, Melissa McManes, were accused by the U.S. Department of Labor (DOL) of misappropriating more than $5 million meant to pay for benefits and instead using it to pay for operating expenses for Axim.
The DOL said that this led to health insurance payment premiums being delayed and some insurance companies issuing late payment notices.
The company was ultimately ordered to pay back $4.4 million to the retirement accounts, according to the DOL. Both Campbell and McManes were banned from being a fiduciary for ERISA plans.
McManes is no longer listed as an employee on Axim’s website.
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