Tuesday, March 10, 2009

Virginia Man Pleads Guilty To $1.5 Million Embezzlement

Rick Eddleman, 57, and the former vice president of finance for Decipher Inc., a maker of role playing cards based in Norfolk, Virginia, pleaded guilty Monday to 12 counts of embezzlement, admitting that he stole more than $1.5 million from the company his brother-in-law, Dave Holland, had founded. According to prosecutors, Eddleman's thefts occurred over a 9 year period. Eddleman's schemes including paying himself a double salary, writing checks to himself ostensibly as loans and convince other staff that he had paid it back. He also wrote checks to his wife and children, forging their names and depositing the proceeds into his own accounts. He also used the company credit card to the tune of over half a million dollars. He was caught in an irregular transaction in 2000 by a staff accountant who noted that $120,000 had been transferred to one of his accounts, but he was able to convince management at the time that that was all he had taken and he was kept in his position. The company has sued Eddleman and his apparent wife, Kathy Eddleman, 52, in civil court for recovery of the stolen funds.

We note that Eddleman's LinkedIn bio indicates that he is currently employed as a Finance Manager for Sara Lee Corporation. Hmm.

Read the story here and here.

1 comment:

Anonymous said...

See how it was done at this website: http://www.embezzlementfromdecipher.com/