A federal indictment has been unsealed against James Vincent Campbell, a 47-year-old CEO from Scottsdale, Arizona, accusing him of stealing millions meant for employeesā health insurance and retirement savings. Authorities say Campbell secretly took more than $2.4 million over nearly a decade.
Court records reveal that Campbell founded and ran Axim Fringe Solutions Group, LLC (Axim), a company that processed employee benefit payments for federal contractors. Clients sent money to Axim to pay for health insurance premiums and 401(k) contributions. Instead of forwarding the full amounts to insurance providers and retirement accounts, prosecutors say the money was pooled in a master trust account.
In simple terms, this meant money from many companies was combined into one big account instead of being sent straight to insurance and retirement providers. Prosecutors say this setup gave Campbell control over large sums of money at once, which made it easier to take funds that did not belong to him.
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Between 2015 and 2024, investigators allege Campbell made 135 unauthorized withdrawals. In total, the withdrawals added up to $2,486,905 beyond the legitimate service fees his company was allowed to collect. Axim was only permitted to charge $40 per employee each month for its services.
Officials claim that the stolen funds were not used for business purposes. Instead, a large portion allegedly went toward Campbellās personal lifestyle, including expensive travel and entertainment.
Lavish Spending on Hunting Trips, Jewelry, and Gambling
According to the indictment, Campbell used the money to fund high-priced hunting trips in Alaska, Africa, and other locations. Some of the funds were also spent on taxidermy services to preserve big-game trophies. Authorities say Campbell also used the money for jewelry purchases, casino gambling expenses, and direct transfers to his girlfriend.
Investigators accuse Campbell of using employee benefit funds as a personal bank account. The allegations paint a picture of luxury travel, high-stakes gambling, and extravagant purchases, all made with money that was supposed to secure workersā health and retirement futures.
The indictment charges Campbell with one count of theft from an employee benefit plan regulated under the Employee Retirement Income Security Act (ERISA). In addition, he faces eleven counts of money laundering.
ERISA stands for the Employee Retirement Income Security Act, a federal law that protects workersā benefit funds such as health insurance premiums and retirement savings. It sets strict rules to make sure companies handling this money cannot misuse it, making any theft from an ERISA plan a serious federal offense.
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Potential Prison Time if Convicted
If found guilty, Campbell could face serious prison time. Each of the eleven money laundering charges carries a maximum penalty of ten years. The charge for theft from an ERISA plan carries up to five years. A federal judge will decide any sentence after reviewing the U.S. Sentencing Guidelines and other legal factors.
The case is being investigated by the Department of Laborās Employee Benefits Security Administration, with Acting Assistant Secretary Janet Dhillon overseeing the departmentās role. The Justice Departmentās Criminal Division, under Acting Assistant Attorney General Matthew R. Galeotti, announced the charges.
Prosecutors Vincent Falvo and Jared Hernandez of the Justice Departmentās Violent Crime and Racketeering Section are handling the case in federal court.
Authorities emphasize that an indictment is only an accusation. Campbell is presumed innocent unless proven guilty beyond a reasonable doubt in court.
This case highlights the risks when companies entrusted with managing employee benefits fail to protect the funds as required by law. Federal investigators are continuing to examine the full extent of the alleged financial misconduct.