By MyFM's Rick Michaels - A Rhode Island man was arrested yesterday and charged in connection with a scheme to embezzle over a million dollars from a Bellingham company. 34-year old Michael Tran of Woonsocket, was indicted on one count of conspiracy to commit wire fraud and one count of wire fraud. According to the indictment, Tran and a product manager for an unnamed Bellingham company, that specializes in manufacturing precision machine parts, worked together to embezzle millions of dollars from the company. It’s alleged that the product manager told the company owners that he was purchasing equipment for the company using his PayPal account, which was linked to the company’s credit cards. Instead of making legitimate equipment purchases. However the product manager used his PayPal account to pay Tran, who withdrew the money in cash and used it to pay for personal expenses. Tran and the product manager concealed the fraud by submitting fraudulent invoices and purchase orders to the company in the name of non-existent vendors. The charging statute for conspiracy to commit wire fraud and wire fraud provides for a sentence of no greater than 20 years in prison, three years of supervised release and a fine of up to $250,000.