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Man pleads guilty to $2 million theft

In September, a man in Texas pleaded guilty to two counts of theft over $200,000. The 69-year-old Killeen man was accused of embezzling over $2 million from the 195 Lumber Co. while he was employed as the company's chief financial officer. A sentencing hearing for the man's case has been scheduled to take place on Nov. 4.

The man reportedly served as the lumber company's chief financial officer for 19 years before he was accused of theft. When the owner of the lumber company noticed discrepancies in the company's financial records, he called Killeen police to report the suspected theft. The accused man was taken into custody after investigators found evidence that he had stolen over $2 million since 2009.

According to reports, the accused man reached a plea deal with the prosecution. Though he could be sentenced to up to 10 years in prison for his charges, the man has asked for shock probation as part of the plea deal. When a person is sentenced to shock probation, they spend a short time in prison before their probation sentence. The man might be ordered to pay up to $1 million in restitution for the theft charges.

Professionals who handle accounting duties for successful companies sometimes face false accusations of embezzlement. If an individual is accused of stealing company funds, an investigation into the alleged theft may begin long before the individual is handed charges. A criminal defense attorney may be able to represent a person who has been accused of fraudulent accounting or theft as soon as they become aware that they are being investigated.

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