Wednesday, January 27, 2010
Upstate New York Executive Indicted For Alleged $400K Embezzlement Scheme
Thomas B. Dalton III, 55, of Barneveld, New York, was indicted yesterday on 11 felony charges for allegedly embezzling more than $400,000 from Divine Brothers Co. of Utica, a wheel buffing company for which he had served as chief operating officer. Prosecutors allege that over the course of 10 years, Dalton used his position to give himself unauthorized raises and bonuses and misappropriate company funds to pay personal expenses. Specifically, Dalton was indicted on three counts of second-degree grand larceny, one count of third-degree grand larceny and seven counts of first-degree falsifying business records. Dalton has plead not guilty and will be back in court on February 17th.