St. Cloud Man Indicted For Stealing More Than $350,000 From Minnesota Brewery
Defendant is also charged with operating Ponzi scheme
United States Attorney Andrew M. Luger today announced a superseding indictment charging ADAM JONATHAN MARTIN, 35, for stealing more than $350,000 from a brewery at which he worked, and for fraudulently obtaining an additional $330,000 from purported investors in a fraudulent investment scheme. MARTIN is charged with six counts of wire fraud, three counts of monetary transactions in criminally derived property, and one count of aggravated identity theft.
According to the superseding indictment, while MARTIN was a controller at a Minnesota-based brewery, he stole more than $350,000. After MARTIN left the company in November of 2014, an investigation revealed that in December 2011, MARTIN allegedly transferred more than $240,000 from the company’s business checking account to a business brokerage account that MARTIN opened and controlled.
According to the superseding indictment, MARTIN used his sister-in-law’s name and personal identifying information to open the aforementioned business brokerage account. He listed the name of the business entity on the account as “DCI Change” and characterized his sister-in-law as the “director” of DCI Change.
According to the superseding indictment and documents filed in court, MARTIN used the fraudulently obtained funds for various personal expenses, including to make a $106,000 down payment on a new home. MARTIN also allegedly used his employer’s credit card to pay for $78,000 worth of personal expenses, including on an all-inclusive vacation resort. Finally, the investigation revealed that MARTIN had allegedly stolen $30,000 in cash from the brewery.
According to the superseding indictment and documents filed in court, MARTIN also was involved in a separate Ponzi scheme in which he defrauded friends, relatives, and acquaintances out of more than $330,000, claiming he would make legitimate investments. Instead, he used the victims’ money to pay for personal expenses and to pay off previous investors.
A trial is scheduled for August 29, 2016.
This case is the result of an investigation conducted by the FBI.
This case is being prosecuted by Assistant U.S. Attorney John Kokkinen.
ADAM JONATHAN MARTIN, 35
St. Cloud, Minn.
Wire fraud, 6 counts
Money laundering, 3 counts
Aggravated identity theft, 1 count