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Press Release

Former comptroller of Toledo company indicted for embezzling nearly $500,000 from his employer

For Immediate Release
U.S. Attorney's Office, Northern District of Ohio

The former comptroller of a Toledo company was indicted embezzling nearly $500,000 from his employer, U.S. Attorney Justin E. Herdman said.

Thomas Paul Mangotic, 30, Whitehouse, was indicted on one count of wire fraud.

Mangotic worked for Richland Industries d/b/a Tools Unlimited in Toledo from 2013 through 2016. Magnotic served as accounts payable manager and then, in 2015, he became Richland’s comptroller, overseeing the company’s financial accounts, according to the indictment.

Mangotic in 2014 began defrauding the company, embezzling fund through a variety of ways, including overpaying his own salary without authorization to do so, using company checking accounts to pay his own personal credit card accounts (including more than $150,000 for his personal American Express bills), and using company credit cards to pay his own personal expenses, including high-end clothing and payments to Microsoft Xbox Live and Apple iTunes, according to the indictment.

If convicted, the defendant’s sentence will be determined by the Court after reviewing factors unique to this case, including the defendant’s prior criminal record, if any, the defendant’s role in the offense and the characteristics of the violation. In all cases the sentence will not exceed the statutory maximum and in most cases it will be less than the maximum.

The investigating agency in this case is the United States Secret Service.  The case is being handled by Assistant U.S. Attorneys Gene Crawford and Jody L. King. 

An indictment is only a charge and is not evidence of guilt. Defendants are entitled to a fair trial in which it will be the government’s burden to prove guilt beyond a reasonable doubt.


Mike Tobin

Updated May 2, 2018

Financial Fraud