Tuesday, April 13, 2010

Trial Starts For 50 Year Employee In North Carolina Alleged To Have Embezzled $500K

Hubert Dean Hudson, 77, of Lawndale, North Carolina, is on trial for embezzling some $500,000 from AA Ramsey and Sons Inc. where he had been employed as its sole finance officer for 50 years. Hudson, who was originally arrested in October 2008, is alleged to have written checks to himself and to personal vendors for his own benefit. The misappropriations are believed to have occurred in 2007 and 2008. Company owner, James Ramsey Sr. is quoted as saying, “I trusted him without a shadow of a doubt, like I would trust any family member.”

Read the story here and here.

Update (4/15/10): A jury found Hubert Dean Hudson guilty yesterday of embezzling about half a million dollars from AA Ramsey and Sons, Inc., a local construction company where he had been employed as chief accountant for 50 years. Hudson was sentenced to five to seven years plus six to eight years for each of the two convictions, to be served consecutively.

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