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Former County Official Sentenced to Four Years in Prison for Embezzling $6.7 Million

A Germantown resident and former Chief Operations Officer of the Montgomery County Department of Economic Development who pleaded guilty to a scheme in which he embezzled more than $6.7 million from the Montgomery County government and failed to report the money as income on his tax returns has been sentenced to four years in prison. On Friday U.S. District Judge Paula Xinis sentenced Byung Il “Peter” Bang, 59, of the 17800 block of Cormorant Lane in Germantown, to four years in prison, followed by three years of supervised release for federal wire and tax charges. Judge Xinis continued the sentencing hearing concerning restitution and forfeiture until Friday, March 1, 2019, at which time the judgment will be finalized. “Mr. Bang lied to his colleagues, government officials and the IRS over an extended period of time. The $6.7 million that he embezzled deprived Montgomery County taxpayers of funds that could have been used for schools, libraries, and other expenditures, and harmed the County’s reputation,” said U.S. Attorney Robert K. Hur. “Corrupt public employees undermine everyone’s faith in government.” “Through strong Federal and County cooperation and investigation we were able to bring Mr. Bang to justice. It is important that people who betray the public trust be held accountable. Today’s sentence is the next step in our effort to close this chapter of greed and corruption in the career and life of Byung Il “Peter” Bang,” said State’s Attorney John McCarthy. According to his plea agreement and other court documents, from 2010 through July 2016, Bang was the Chief Operating Officer of the Department of Economic Development for Montgomery County, Maryland (MC-DED). In 2016, the MC-DED was privatized and Bang’s position was moved to the Montgomery County Department of Finance, where he was employed until May 2017. The MC-DED established business incubator and/or innovation centers throughout the County. As COO, Bang oversaw budgets for these incubators and was authorized to request disbursement of County funds to the incubators to fu