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Timothy Semones was charged with transferred $3 million from a California company to his personal bank account to help finance this Lake Creek home.

A Ketchum man who was facing 10 federal counts of wire fraud has pleaded guilty to one of them, with the other nine dismissed along with a charge of engaging in monetary transactions in property derived from unlawful activity.

Timothy Semones was indicted on the 11 offenses in February, following an investigation by the FBI determining that between October 2017 and November 2018, he had transferred $3 million from a California-based company where he worked as chief financial officer to his personal company’s bank account and to that of his wife, Ketchum architect Susan Desko. The money was used to help fund construction of a home at 29 Lake Creek Drive north of Ketchum, according to the federal indictment.

The indictment stated that Semones made nine online transfers from Westlake Village, Calif.,-based Eta Compute’s bank account to Desko and Semomes’ company, Inphi Partners.

The house has since been sold, and Eta Compute received full restitution from the proceeds, resolving a civil case it had filed in December 2018, according to the plea agreement. Part of the proceeds went to the U.S. Marshal’s Service.

Semones is scheduled to plead guilty next week, at which time a hearing for the sentencing will be scheduled. Under the one count, Semones faces a maximum of 20 years in federal prison.

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