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FOR IMMEDIATE RELEASE |
March 24 , 2009
EMPORIA MANUFACTURER’S CFO AND HIS WIFE PLEAD GUILTY IN EMBEZZLEMENT CASE
TOPEKA, KAN. – The former chief financial officer of Vektek Inc., and his wife have entered guilty pleas in a case involving the embezzlement of more than $2.6 million from the Emporia-based manufacturing firm, Acting U.S. Attorney Marietta Parker said today.
James W. Foremsky, 62, Topeka, Kan., pleaded guilty to one count of wire fraud. His wife, Susan A. Foremsky, 57, Topeka, Kan., pleaded guilty to one count of being an accessory after the fact to wire fraud.
The Foremskys also agreed not to contest the civil forfeiture of their house, four cars and the contents of two bank accounts.
In his plea, Foremsky admitted that from June 1995 to Nov. 8, 2007, he was the chief financial officer of Vektek, located at 1334 E. 6th Ave. in Emporia, Kan. During that time, he had control over all of Vektek’s finances, including the company’s bank accounts.
Foremsky unlawfully withdrew funds from the company’s accounts in order to maintain a lavish lifestyle for himself and his family including:
– Expensive vacations
– Bar tabs
– Meals
– New vehicles
– Mortgage payments
– A hobby maintaining and showing jumping horses
According to the indictment, he altered internal checkbook spreadsheets and moved funds between accounts in an attempt to cover up the thefts.
Sentencing is set for June 29, 2009. James W. Foremsky faces a maximum penalty of 30 years in federal prison and a fine up to $1 million. Susan A. Foremsky faces a maximum penalty of 15 years in federal prison and a fine up to $500,000.
Parker commended the Federal Bureau of Investigation and Assistant U.S. Attorney Richard Hathaway for their work on the case.
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