Tuesday, October 13, 2009

Pennsylvania Exec Pleads Guilty In $1.5 Million Embezzlement Case

Jeffrey C. Ramsey, 46, of Bryn Mawr, Pennsylvania, pleaded guilty Friday to embezzling more than $1.5 million from JSP International, a plastics manufacturing company for which he had served as a controller. Ramsey was originally charged last May with numerous counts of theft, forgery, access device fraud, unlawful use of a computer, and related crimes, but pleaded guilty to one count of each. Prosecutors alleged that Ramsey stole the funds to support a spa and salon in Philadelphia that he owned outside of JSP. In his position as controller, since 2004, Ramsey reportedly wrote 320 checks to himself and third parties for his own benefit, totalling $1,549,946.82. He co-owned his business, Art+Science Spa and Salon in Manayunk, Pennsylvania, with a former partner, Steven Faleo.

Read the story here and here.

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