Monday, December 8, 2014

Louisiana Man Accused In Civil Suit Of Embezzling $850 From Staffing Company In Payroll Scheme

From the Louisiana Record on 12/5/2014:

A staffing agency is suing one of its shareholders it claims embezzled $850,000 in payroll funds in addition to hundreds of thousands more in business receipts.

SCS Enterprises Inc. filed suit against Dean St. Pierre in the 24th Judicial District Court on Sept. 23.

SCS Enterprises Inc. alleges that St. Pierre was a shareholder in the company in January 2010 when it discovered he had manipulated the company’s payroll, making bank draws from the company bank account in excess of his salary. The plaintiff contends it ultimately calculated $850,000 in funds that the defendant had taken. SCS Enterprises Inc. asserts that after being confronted with the evidence St. Pierre admitted to being liable for the missing funds in exchange for a 90 percent ownership stake in the company being transferred to the other shareholder, Russell Saluto, with St. Pierre retaining a 10 percent ownership stake.

However, the plaintiff claims that after the transfer it found more evidence of alleged embezzlement on behalf of the defendant, amounting somewhere between $307,000 and $612,421, that he allegedly took in the form of payments that were made out to the company by customers, but were diverted to a separate bank account. SCS Enterprises Inc.  alleges that because the previous shareholder transfer agreement was applied to the the $850,000, the remaining amount subsequently discovered should be repaid.

Damages are sought for the return of all allegedly misappropriated funds as well as attorney’s fees.


Read the whole story here.

No comments: