A Manhattan man has made his plea in a case of embezzlement.
Larry Lord, 63, has pleaded guilty of embezzling more than $500,000 from Cheney Construction Incorporated, where he worked as an accountant.
In his plea, Lord admitted to one count of mail fraud and one count of filing a false tax return.
Lord used his position at the company to pay his own personal expenses using the company’s money.
Lord wrote checks on CCI’s bank account and mailed the checks to a credit card company. To conceal the crimes, he falsified the company’s check register log to make it appear the check was written to a legitimate payee. He wrote checks totaling $535,179. In addition he failed to report the embezzled funds on his federal income tax, resulting in taxes owed for 2006 through 2011 of $103,962.
Sentencing is set for July 1. He faces a maximum penalty of 20 years and a fine up to $250,000 on the mail fraud count and a maximum penalty of three years and a fine up to $250,000 on the income tax charge.
