Friday, December 10, 2010

Michigan Man Pleads Guilty To Embezzling Nearly $1 Million From Auto Parts Supplier

Ribeiro Da Costa, a Brazilian citizen and a legal resident of Troy, Michigan, pleaded guilty to charges he embezzled nearly $1 million from Magneti Marelli North America, where he had been employed as an engineer manager. According to prosecutors, Da Costa submitted fraudulent expense reports over a period of nearly 3 1/2 years, from April 2007 to July 2010. He then deposited the proceeds into his personal accounts, wired the funds to Brazil or spent it on personal expenses.

Read the story here.

Hat tip: Reader Connie.

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