Man pleads guilty to embezzling from family-owned business

GRAND RAPIDS, Mich. (AP) — A former CFO who police say took more than $325,000 from a foam manufacturer in western Michigan has pleaded guilty in the case.

The Grand Rapids Press reports (http://bit.ly/1PLnu41 ) 43-year-old Chad James Perleberg pleaded guilty this week to embezzlement of more than $100,000 from Wyoming-based Grand Rapids Foam Technologies, which produces foam products used in furniture, bedding, seating and other products.

He faces no more than 5 years in prison when sentenced Oct. 15.

Police say Perleberg used company checks to pay for personal credit cards, issued checks to himself, altered petty cash receipts and used a company credit card for his own expenses. Court records say an audit found nearly $330,000 had been misappropriated.

Police say the thefts occurred between April 2011 and last October.

___

Information from: The Grand Rapids Press, http://www.mlive.com/grand-rapids

WNCT-TV 9 On Your Side provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s