Thursday, March 1, 2012

Iowa Man Pleads Guilty To Embezzling $242K From Machinery Company And Is Sentenced To 10 Years

Scott Donnelly
Scott F. Donnelly, 50, of Hiawatha, Iowa, pleaded guilty to charges he embezzled $242,532 from the Newell Machinery Company where he had been employed as company controller.  According to authorities, over a period of nearly 2 years, from July 22, 2009 to March 7, 2011, Donnelly deposited at least 10 checks made out to the company into a personal bank account he had set up.  Donnelly reportedly used the money for personal loans and a mortgage, as well as many luxury items. The funds were tracked to payments that went to a contractor for home renovations, a vacation time share, recreational vehicles and accessories, a piano, auto loans and a spa and pool.  Donnelly was then sentenced to 10 years in prison.

Read the story here and here.

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