Friday, April 30, 2010

Missouri Man Indicted In $350K Alleged Embezzlement

Anthony J. Schrader, 63, of Wentzville, Missouri has been indicted on charges he allegedly embezzled more than $350,000 from Creech Brothers Truck Brokerage Inc., where he had been employed. According to the indictment, over a two year period, between 2007 and 2009, Schrader created bogus invoices for payment by the company and then converted the checks to money orders payable to himself. Schrader and his wife reportedly were big casino gamblers, putting nearly $1 million into play at the Ameristar Casino during 2009 alone, and losing more than $50,000 between the two of them. Schrader faces up to 20 years in prison for each of the ten wire fraud counts, if convicted, plus fines and restitution.

Read the story here, here, here and here.

Update (11/5/10): Schrader, who pleaded guilty to one felony wire fraud count, was sentenced to 2 years in prison and ordered to pay $524,825 in restitution.

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