Local man pleads guilty to embezzling half a million dollars

By The Mercury

A Manhattan accountant has pleaded guilty to embezzling more than $500,000 from the commercial construction company where he worked.

Larry D. Lord, 63, pleaded guilty to one count of mail fraud and one count of filing a false tax return. In his plea, Lord admitted the crimes occurred from 1995 to 2012 while he worked as an accountant for Cheney Construction Incorporated.

U.S. District Atty. Barry Grissom said Lord embezzled funds from CCI’s bank account to pay his personal expenses, including his and his wife’s personal credit cards. He said Lord falsified the company’s check register log to make it appear the checks were 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. Lord 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.

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