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Former Marysville Man Pleads To Federal Embezzlement

By Brian Hagen

03/29/2013

U.S. Attorney Barry Grissom

(KNZA)--A former Marysville resident, working as an accountant in Manhattan, has entered a guilty plea to embezzling $500,000 from the commercial construction company where he worked.

According to the office of U.S. Attorney Barry Grissom, 63-year-old Larry Lord pleaded guilty to one count of mail fraud and one count of filing a false tax return.

In the plea, Lord admitted that the crimes occurred from 1995 until 2012 while he worked as an accountant for Manhattan-based Cheney Construction Incorporated.

Authorities say he used his position to embezzle the funds from the company's bank account in order to pay his personal expenses, including credit card debts for both he and his wife.

To cover up the crimes, Lord falsified Cheney's check register log to make it appear that checks were written to a legitimate payee.

Along with writing checks totaling over $535,000, Lord failed to report the embezzled funds on his federal income tax, resulting in taxes owed between 2006 and 2011 in the amount of over $103,000.

Lord's sentencing is set for July 1st.

He faces a maximum penalty of 20 years in federal prison and a fine up to $250,000 on the mail fraud count.

On the income tax charge, Lord faces a maximum penalty of three years in federal prison and a fine up to $250,000.

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