Friday, June 26, 2009

California Man Guilty In $516K Embezzlement

Michael T. Bush, 59, of Oxnard, California, was found guilty of embezzling $516,000 from Big Brand Tire Co., for whom he had been employed as controller. Bush was also found guilty of failing to pay taxes on the ill-gotten gains. Specifically, the Ventura County jury found Bush guilty on one count of corporate embezzlement, two counts of grand theft, one count of misdemeanor petty theft, four counts of falsifying tax returns and one count of tax evasion. According to prosecutors, Bush, who had been employed by the company for 23 years, embezzled over the course of 9 years, from 1997 to 2006. He reportedly spent the money on a lavish lifestyle, including trips to the Philippines where his wife is from. Bush is scheduled to be sentenced on July 30 and faces up to 14 years in prison, plus restitution and fines.

Read the story here and here.

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