Fort Walton Beach man pleads guilty to embezzling over $825,000

News

FILE – This Oct. 24, 2016 file photo shows dollar bills in New York. After you pay your bills in 2020, will there be any money left for relaxation and entertainment? Will you be able to take a vacation this year? How much can you afford to spend on clothes? These questions may come to mind as you think about your money plans for the new year, but there’s a way to budget for fun in 2020. Financial pros share tips for how to achieve balance in your budget using the 50/30/20 rule and other financial techniques. (AP Photo/Mark Lennihan, File)

PENSACOLA, Fla. (WMBB) — A Fort Walton Beach man pled guilty Friday to 17 charges related to embezzling funds from his employer.

According to the United States Attorney’s Office, Michael Greutman, 59, embezzled over $825,000 between 2009 and 2016 from the family-owned business he worked for in Shalimar. Greutman was the business’ Chief Financial Officer and stole money by making unauthorized online payments to pay his credit cards with employer funds, using corporate credit cards for unauthorized personal purchases and transferring company funds to his personal bank accounts.

He also created false documentation and manipulated accounting records to cover up his scheme as well as failing to report the embezzled money as income on his income tax returns.

Greutman pled guilty to 13 counts of wire fraud and four counts of tax evasion. He faces a maximum of 20 years in prison for the wire fraud and a maximum of 3 years in prison for filing a false tax return.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Latest Local News Video

BDS rolls out distance-learning

Thumbnail for the video titled "BDS rolls out distance-learning"

Lynn Haven extends state of emergency

Thumbnail for the video titled "Lynn Haven extends state of emergency"

Isolation negatively impacting those in recovery

Thumbnail for the video titled "Isolation negatively impacting those in recovery"

Panhandle weddings postponed due to COVID-19

Thumbnail for the video titled "Panhandle weddings postponed due to COVID-19"

Funeral homes adjust services to meet CDC regulations amid pandemic

Thumbnail for the video titled "Funeral homes adjust services to meet CDC regulations amid pandemic"

White House projects 100K to 240K US deaths from coronavirus

Thumbnail for the video titled "White House projects 100K to 240K US deaths from coronavirus"
More Local News