TAMPA, Fla. — A former University of South Florida accounting manager pleaded guilty in court Thursday to embezzling $12.8 million from a non-profit company associated with the school.

Ralph Puglisi, 59, pleaded guilty to using a company credit card to pay for home renovations, chartered yachts, rent payments and transactions on an adult entertainment website, the plea agreement said.   

What You Need To Know

  • Ralph Puglisi pleaded guilty in court to mail fraud after embezzling $12.8 million from UMSA

  • The agreement states he spend the money on home renovations and payments to woman affiliated with adult websites

  • USF says the money taken was not from stat, philanthropic, grant or research funds

According to Bay News 9's partner newspaper the Tampa Bay Times, assistant U.S. Attorney Robert Mosakowski said the government was not seeking detention or a cash bond. Instead, Puglisi will remain at home under the custody of his brother, Robert Puglisi Jr., until his sentencing.

The Puglisi brothers signed a bond for $100,000 in the event the terms of agreement were broken, according to the Times.

The judge said a teleconference between attorneys would take place in November to set a sentencing date. Under the deal, Puglisi faces a maximum prison sentence of 20 years and a fine of $250,000, or twice the amount of any profit made or money lost to others during the crime, whichever is greater.

The sentence also will include three years of supervised release.

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Officials said Puglisi embezzled approximately $12.8 million dollars from 2014 to 2020 while working for University Medical Service Association, Inc., a non-profit corporation which “assists USF Health in the billing, collection and disbursement of funds generated by the medical practice of the USF medical faculty,” according to its Employee Policy Summary, “

It goes on to say, “the money was stolen from revenues generated by patient care; No state, philanthropic, grant or research monies were stolen.”

As part of the agreement, Puglisi is ordered to pay at least $12.8 million in restitution.

“USF immediately contacted law enforcement and has since actively supported and cooperated with local, state and federal law enforcement agencies to investigate this matter, bring those responsible to justice and recover stolen funds,” the statement reads, describing what happened after the theft was discovered.

USF says Puglisi’s employment was swiftly terminated, and his supervisor, the director of financing and accounting at UMSA has also been fired.