A Mountain View couple is accused of quietly bleeding TIBCO Software employee benefits for nearly eight years, a scheme that federal investigators say added up to more than $823,000 routed through fake invoices and shell companies.
According to federal filings, Paul Joseph Pichulo, 59, and Suzeth Priscila Lara, 52, allegedly funneled $823,299 out of TIBCO between March 2016 and February 2024. Investigators say the money came from three separate benefit buckets: $395,015 from two retirement plans, $172,372 from a wellness program and $238,912 from a commuter benefits program. Lara, identified as TIBCO’s benefits director, allegedly generated bogus invoices that triggered checks to sham companies, while Pichulo allegedly moved the cash into his consulting business and then withdrew large sums in cash, according to the Palo Alto Daily Post.
TIBCO’s local footprint
TIBCO, an enterprise software firm with long-standing South Bay operations, lists its global headquarters in Palo Alto and markets its products to large employers and their HR systems. The company’s public materials highlight Palo Alto as its main base and outline regional offices and contacts for benefits and HR issues, according to TIBCO Software.
Federal and labor enforcement context
The FBI’s involvement puts the case squarely in a category that federal prosecutors and labor regulators have been aggressive about for years: alleged theft or diversion of employee benefit funds. Similar cases have led to criminal charges against trustees and plan administrators accused of diverting retirement and other plan assets, per the U.S. Department of Justice. The Department of Labor’s Employee Benefits Security Administration also regularly investigates suspected abuse of benefit plans.
Charges and court dates…