James W. Foremsky, 61, the former Chief Financial Officer of Emporia, Kansas-based Vektek Inc., and his wife, Susan A. Foremsky, 56, both of Topeka, Kansas, have both plead guilty to charges they embezzled $2.6 million from the company. The Foremsky's had been indicted in April 2008 with conspiracy to commit bank fraud, wire fraud and money laundering. James Foremsky pleaded guilty to one count of wire fraud and Susan Foremsky pleaded guilty to one count of accessory after the fact to wire fraud. The couple reportedly used the funds to maintain a lavish lifestyle and spent it on items, including, show horses, paying their mortgage, lavish vacations, luxury vehicles, restaurant and bar bills and the like. They each face up to 30 years in prison, plus a fine of $1 million and restitution. Sentencing is scheduled for June 29.Read FraudTalk's earlier post on this story here.
Read the story here and here.
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