Wednesday, November 10, 2010

Former New Jersey CFO Pleads Guilty To $2 Million Embezzlement

John A. Eichner, 49, of Montvale, New Jersey pleaded guilty yesterday to wire fraud and tax evasion charges in connection with the alleged embezzlement of some $2 million from the Harold M. Pitman Company, where he had served as Executive Vice President and Chief Financial Officer. According to prosecutors, Eichner falsified expense reports over a period of six years from 2003 through 2009. Authorities also alleged that Eichner caused wire transfers of company funds to pay for personal expenses and luxury travel and goods, including $30,000 for cases of wine purchased through the Southeby's auction house.

Read the story here and here.

Update (8/3/11): Eichner, now 50, has been sentenced to 56 months in prison and ordered to pay restitution in the amount of $2,349,162.

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