Millions Embezzled? nCino’s CMO Michael Collins Faces Major Fraud Charges
Less than six months after taking a senior marketing position at Wilmington-based fintech giant nCino, Chief Marketing Officer Michael J. Collins has found himself embroiled in a high-profile financial scandal. Manhattan prosecutors have indicted Collins for allegedly embezzling nearly $6 million from his previous employers, sparking inquiries into his now-former employer, nCino.
(Below) WECT News reports on nCino executive Michael Collins' indictment for embezzling almost $6 million from previous employers.
Michael Collins' Rapid Rise at nCino
Collins joined nCino in January 2025, initially as the Executive Director of Global Market Strategy. His rapid ascent culminated in his promotion to Chief Marketing Officer in June 2025. However, his tenure in the top marketing role was short-lived, abruptly terminated following the announcement of criminal charges.
According to a statement provided by nCino spokesperson and reported by WECT News,
"Mr. Collins is no longer associated with nCino. As this matter is actively being investigated by law enforcement it would be inappropriate for us to comment further."
The fintech firm, known for providing cloud-based banking solutions to financial institutions worldwide, has since distanced itself from Collins, emphasizing the company's commitment to compliance and corporate integrity.
Manhattan D.A. Allegations: Luxury Lifestyle Funded by Fraud
Manhattan District Attorney Alvin Bragg's office formally indicted Collins on June 23, 2025, accusing him of conducting a sophisticated financial fraud scheme between 2016 and 2024. The indictment details charges including first-degree Grand Larceny, second-degree Grand Larceny, and six counts of Falsifying Business Records.
Investigators allege Collins created two fictitious consulting entities, Quattro Quadrati LLC and Regiondrivers LLC, using them to funnel nearly $6 million into his personal accounts. Authorities identified approximately 149 fraudulent invoices Collins reportedly submitted while holding senior marketing positions at the CFA Institute and later Pearson.
Prosecutors contend Collins used the misappropriated funds to finance extravagant purchases, including more than 150 airline tickets and a lavish engagement ring valued at approximately $150,000.
In an official statement, DA Alvin Bragg underscored the seriousness of the accusations:
“Michael Collins allegedly used his position as a marketing executive to embezzle nearly $6 million from two of his employers over the course of 8 years. He then allegedly used the stolen money to fund his lavish lifestyle, spending it on executive club memberships, luxury brands, fine dining, and extensive travel. My office’s Investigation Division will hold accountable those who embezzle money from their employers.”
Collins Case Spotlights Hiring Flaws in Our Institutions
The Collins case highlights broader issues surrounding hiring practices across both private and public sectors. Companies and governmental organizations alike face increasing pressure to implement rigorous background checks and screening procedures, particularly for positions with significant financial or managerial responsibilities.
Despite heightened awareness of the risks involved, inconsistencies remain. For instance, the New Hanover County school district currently does not perform background checks on its school board members. Given the district’s troubling history of abuse against children, this lack of vetting should be especially alarming.
Experts encourage organizations to regularly review and update their hiring policies to include detailed background investigations, financial checks, and ongoing monitoring of individuals in key leadership roles. These practices mitigate risks and maintain public trust.
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