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Company's CFO charged with fraud in Missouri

Those who have positions of power in a company have multiple important decisions to make that could ultimately impact a company's success and the jobs of several people. Unfortunately, those in such positions also face additional scrutiny should something go wrong -- such as if money goes missing. Unfortunately, a chief financial officer in Missouri now faces accusations of fraud.

The 45-year-old man now faces three counts of wire fraud. Reports indicate that the man was employed by The Boyd Group, a company that runs Boyd Sleep, Accent Furniture and The Bedroom Store. Prosecutors have accused him of stealing approximately $3.8 million from the company.

The money was allegedly taken from the company through company checks that the man wrote to himself -- around 500 in total. Reports claim that he then falsified company records to prevent the discovery of the checks. The indictment against the man claims that he used the money to fund a lavish lifestyle. Authorities believe that the money was used for trips for him and his family, gambling and his mortgage.

The fraud charges carry a sentence of up to 20 years in prison and a $250,000 fine if convicted. Because of the potential consequences of a conviction, the man is left to carefully consider the decisions that will likely have a significant impact on the rest of his life. He may choose to examine the evidence against him with an experienced criminal defense attorney in Missouri as he works to make a decision regarding how to respond to the accusations against him.

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Company's CFO charged with fraud in Missouri | The Law Office of Gregory N. Smith