A former controller for Austin Freight Systems pleaded guilty to federal charges after prosecutors accused him of embezzling more than $3.2 million from the Texas freight brokerage. Mitchell David Slentz, 34, of Kyle, Texas, pleaded guilty June 29 to one count of wire fraud and one count of engaging in monetary transactions involving criminally derived proceeds. The U.S. Attorney’s Office for the Western District of Texas announced the guilty plea Tuesday.
Prosecutors outline alleged scheme
According to court documents, Slentz oversaw accounting operations, financial reporting and internal controls at Austin Freight Systems. He also submitted payment requests to JPMorgan Chase Bank for payments to company vendors. Prosecutors alleged Slentz fraudulently misappropriated company funds between October 2023 and March 2025. They alleged he completed 147 payments totaling approximately $3,277,937.35 and deposited the money into his personal bank accounts through interstate wire communications.
Court documents also describe how prosecutors say Slentz used some of the money. Prosecutors alleged he paid $25,000 toward student loan debt on July 24, 2024. They also alleged he paid another $33,887.83 toward student loan debt on Sept. 3, 2024. Financial analysis also showed deposits and or winnings exceeding $1 million through an online gambling platform, according to the Justice Department.
Prosecutors charged Slentz by information on May 14. He made his initial appearance before U.S. Magistrate Judge Dustin M. Howell on June 8. Assistant U.S. Attorney Joshua Somers is prosecuting the case. The FBI Austin White Collar Crime Task Force investigated the case.
Brokerage says operations continue
Austin Freight Systems confirmed the thefts occurred between late 2023 and early 2025. Company officials described the case as a lengthy process. “The wheels of justice move very slowly,” George K. Copeland, CFO and owner, and Brian Sutton, CEO and owner, said in a statement to FreightWaves…