SCOTTSDALE, AZ (AZFamily) — The CEO of a company based in the Valley pleaded guilty to embezzling nearly $9 million from an employee retirement plan to fund lavish retreats, federal officials announced Tuesday.
The U.S. Department of Justice said 49-year-old James Vincent Campbell of Scottsdale entered a guilty plea in the District of Maryland for embezzling millions from an Employee Retirement Income Security Act (ERISA) benefit plan.
Court documents show Campbell is the CEO and founder of Axim Fringe Solutions Group LLC, which “processes employee benefits for employees of federal contractors.”
Prosecutors say the company was initially headquartered in Maryland when the theft began, but Campbell moved the company to Scottsdale in January 2022.
Court records show clients of Axim sent money to the company to pay for health insurance premiums and 401(k) contributions, and Axim was designated to move those funds to proper insurance carriers and retirement accounts.
Prosecutors say before the money was forwarded from Axim, Campbell allegedly pooled it in a master trust account.
Between 2015 and 2024, Campbell is accused of making 135 unapproved withdrawals totaling $2,486,905, an amount more than the fees owed to Axim, documents said.
“Workers have a right to trust that when they contribute portions of their hard-earned wages into their health insurance and retirement accounts, those contributions will go to where they were intended – their health plans and 401(k) accounts,” said Assistant Attorney General A. Tysen Duva of the Department of Justice’s Criminal Division. “Instead, James Vincent stole directly from these accounts by embezzling funds and putting more than $8 million into his own pocket.”
Campbell is accused of using the money for personal expenses that included big game hunting trips in Alaska, Africa and other locations; taxidermy fees; jewelry; casino gambling and direct payments to his girlfriend.
Prosecutors say when Campbell moved to Arizona, he continued his theft by secretly charging clients up to five times the amount they owed his company. In all, Campbell is accused of illegally taking over $8.8 million from Axim’s clients.
Campbell pleaded guilty to one count of theft from an ERISA plan and faces a maximum punishment of five years in prison, according to the Department of Justice.
See a spelling or grammatical error in our story? Please click here to report it.
Do you have a photo or video of a breaking news story? Send it to us here with a brief description.
Copyright 2026 KTVK/KPHO. All rights reserved.