Tuesday, March 9, 2010

Former Texas CFO Accused In $3.5 Million Embezzlement Scheme

Christopher McCullough, 47, formerly of Houston, Texas and now of Frederic, Colorado, was indicted yesterday on charges he embezzled more than $3.5 million from LJA Engineering where he had been employed as chief financial officer. Prosecutors allege McCullough accessed company accounts and engaged in more than 200 unauthorized transactions in which he converted LJA funds by withdrawing cash and writing checks to pay for a wide range of personal expenses. The 7 count indictment accuses McCullough of spending the embezzled funds on such items as past due taxes, real estate in Colorado, home improvements, interior decorating, stock purchases and other personal expenses. He is also charged with interstate transportation of stolen goods - checks and financial records believed to have been taken from the company's offices after he left the company.

Read the story here and here.

Read the DOJ announcement here.

Update (5/1/10): McCullough pleaded guilty to interstate transportation of stolen property in connection with his embezzlement of some $3.5 million from LJA Engineering, where he had served as CFO and a member of the board of directors.

Update (9/8/10): McCullough was sentenced to 51 months in prison.

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