FARGO, N.D. — A former bookkeeper is facing federal bank fraud charges after allegedly embezzling nearly $700,000 from his employer over a 13-month period.
Austen Henry Strom was indicted on five counts of bank fraud in U.S. District Court on October 29.
Prosecutors say Strom worked at FM Forklift for eight years, serving as a bookkeeper for the last three to four years. In that role, he reconciled company accounts, processed accounts payable, and wrote checks.
Beginning March 25, 2024, Strom allegedly drafted unauthorized checks on FM Forklift’s Bell Bank account, ranging from $1,250 to $29,611, forging the owner’s signature. He then deposited the funds into his personal Wells Fargo accounts via mobile deposit.
Strom was not authorized to sign checks or withdraw funds from the company account. Investigators say one of the owners had to sign outgoing checks.
In total, prosecutors allege Strom embezzled $692,572.86. Bell Bank alerted FM Forklift in April 2025 about suspicious activity, including multiple mobile deposits into Strom’s personal accounts.
When confronted by co-owners, Strom allegedly admitted to transferring nearly $700,000 to himself and said he spent the money on online gambling.
If convicted, Strom must forfeit $30,000 already seized from an LPL brokerage account and could face a money judgment for the full embezzled amount.
