Friday, August 14, 2009

Former Washington State CFO Sentenced In $300K Embezzlement Scheme

Christopher W. Phillips, 63, of Tacoma, Washington, was sentenced to 27 months in federal prison for embezzling more than $300,000 from Vitech, a breath mint company based in Kent, Washington, where he had been employed as CFO. According to prosecutors, between January 2002 and October 2005, Phillips used company credit cards to pay for personal expenses and to maintain a lavish lifestyle. As a result the company, in financial difficulty, was sold for "a fraction of its worth" and went out of business, according to prosecutors.

Read the story here and here.

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