Wednesday, August 4, 2010

Former Illinois Treasurer Sentenced In $266K Embezzlement Case

Donald W. Jacobs, 62, of Posen, Illinois was sentenced to six years in prison for embezzling $266,414 from the Posen Park District where he had been employed as treasurer. Jacobs, who was arrested last May, pleaded guilty to one count each of theft of government property and official misconduct. He had served as treasurer since 1995, according to reports. Prosecutors alleged that Jacobs used a variety of means to embezzle from the District: issuing himself 94 additional paychecks; issuing checks to a phony vendor he controlled called "D & D Services; and using District funds to pay his personal credit card bills and make mortgage payments. Jacobs' scheme reportedly spanned a five and a half year period, from March 2004 to December 2009.

Read the story here and here.

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