Thursday, September 1, 2011

Hollister Police Sergeant Charged With $102K Embezzlement

In a follow-up to yesterday's shocking SF Giants embezzlement post, it sure seems like everyone wants a piece of the embezzlement action.  There are just endless stories posted on Marquet's International's Fraud Talk Blog I rely on when I'm extremely busy.

Read and weep over these pathetic individuals who were motivated by greed. Always remember, if this is what a few average employees do, imagine what the professional politicians in the U.S. government get away with due to their dangerous criminal networks that shield them?
Ray Wood, 53, of Hollister, California, has been charged with embezzling some $102,000 from the union that represented the Hollister Police Department where he had served most recently as a sergeant.  Authorities accuse Wood, who was president of the union, of siphoning off funds from the department over a period of nearly 7 years, beginning in March 2004 until December 2010.  Wood allegedly wrote checks to himself and took union dues proceeds for his own benefit.  Read the story here.

Former Finance Executive In Texas Found Guilty on 39 Fraud Counts in $75 Million Ponzi Scheme
 Kurt Barton, 43, of Austin, Texas, has been found guilty on all 39 financial fraud felony counts filed against him for operating a Ponzi scheme that bilked investors out of $75 million.    Barton, the CEO of Triton Financial, raised investor funds ostensibly for real estate and businesses, as well as to make short-term loans to business owners.  Only about $20 million of the $75 million raised went for toward legitimate investments, the rest supported his lifestyle and paid for prior investors' purported returns.  Barton was convicted on one count each of conspiracy, securities fraud, 15 counts of wire fraud, five counts of false statement related to a loan and 17 counts of money laundering.  Read the story here.

Nevada Woman Sentenced For Embezzling $750K
Terry Straw, 58, of Sparks, Nevada, was sentenced to up to 10 years in prison for embezzling nearly $750,000 from Reno-Tahoe Construction Inc. where she had been employed as an office manager.  According to authorities, over a 5 year period, Straw siphoned funds from the company by writing checks to herself and doctoring invoices.  According to media reports, Reno-Tahoe Construction was forced to lay off 60 employees and nearly bankrupted the company.  Straw reportedly has a serious gambling addiction and spent much of the ill-gotten gains at local casinos. Read the story here.

Connecticut Woman Charged with Embezzling Nearly $300K From Church
Kelly Saucier, 45, of Southington, Connecticut, has been charged with embezzling nearly $300,000 from the Plantsville Congregational Church where she had served as treasurer.  According to authorities, over a period of more than five years, from 2005 to December 2010, Saucier made over 100 unauthorized transactions siphoning church funds into her own accounts.  Authorities report that a total of $293,385.15 was allegedly stolen by Saucier.  Read the story here

Oregon Woman Sentenced For Embezzling Nearly $500K
Faye Louise Clemens, 65, of Beaverton, Oregon, has been sentenced to 52 months in prison for embezzling nearly $500,000 from Marine Lumber Co. where she had been employed as a bookkeeper.  According to authorities, Clemens wrote checks to herself for cash, pocketing the money over a period of three years.  Clemens has blamed her actions on an apparent gambling addiction.  Read the story here

Source: Fraud Talk Blog