Political Treasurer Indicted in $200K Embezzlement Scheme
State of MD - An indictment was unsealed today by the U.S. Attorney's Office for the District of Maryland. It charges a treasurer for several political candidates and organizations in an embezzlement scheme. James Appel, 58, of Annapolis, is charged with wire fraud and money laundering.
The indictment alleges that Appel embezzled a total of $200,000 in 2024. This includes $100,000 from a Maryland State Delegate's campaign accounts and $100,000 from an Anne Arundel County community organization.
The stolen funds were allegedly reported as personal assets on a loan refinance application for a yacht. The indictment was announced by Kelly O. Hayes, U.S. Attorney for the District of Maryland, and Jimmy Paul, Special Agent in Charge of the FBI Baltimore Field Office.
According to the indictment, $100,000 was transferred by Appel in May 2023 between two campaign accounts belonging to Politician 1. Appel was the sole designated representative for the receiving account.
A bank was later contacted by Appel in April 2024 regarding refinancing a loan for his Pacific Mariner 65 Motoryacht. He was advised by the bank that asset information and bank account balances were required.
Campaign funds were subsequently transferred from the political account to Appel's business account in May 2024. The money was then moved into his personal financial accounts. A transfer of $40,000 was made on May 13 from the campaign account to the business account.
That same day, $20,000 was moved to a personal account, and another $40,000 was used to pay an outstanding line of credit. An additional $60,000 was transferred on May 30 from the campaign account to the business account. It was then moved to a personal account.
On June 5, $100,000 was transferred by Appel from the Anne Arundel community organization account to his business account. The funds were then moved to his personal account on the same day. An email was sent by Appel to the bank on June 5 regarding the yacht refinance loan.
He wrote: "I will be able to pull [bank] statements dates 6/18 and 6/22 for our checking account and [money market account] and they will show balances of 70k and 100k."
False asset information was submitted to the bank in August 2024. A fraudulent campaign report was also submitted to the Maryland Board of Elections. This report falsely inflated the balance of the campaign accounts.
Additional fraudulent reports were submitted in January 2025 and January 2026. The status of the community organization's assets was also falsely represented to its board members in 2026.
An indictment is not a finding of guilt. Individuals are presumed innocent until proven guilty at a later criminal proceeding. A maximum sentence of 20 years in federal prison is faced for each wire fraud count. Up to 10 years in federal prison is faced for each money laundering count.
Actual sentences are typically less than the maximum penalties and are determined by a federal district judge.
Disclosure: All individuals mentioned in this article are presumed innocent until proven guilty in a court of law. Eastern Shore Undercover® does not express or imply any opinion regarding the incident reported.
