A former chief financial officer of a Hartford-based company has pleaded guilty to fraud and tax offenses which stem from embezzling funds from his employer, according to the U.S. Department of Justice.
Officials said 56-year-old David McManus, from Granby, was the former chief financial officer at the company for nearly 14 years, officials said.
According to court documents, between 2012 and 2018, McManus embezzled approximately $433,584 from the company by using company funds to pay off his personal credit card expenses, and by issuing reimbursements to himself for personal expenses unrelated to the company.
McManus also filed federal income tax returns that omitted the embezzled income for the 2015 through 2018 tax years, resulting in a tax loss of $104,094 to the IRS, court documents said.
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McManus pleaded guilty to one count of wire fraud and one count of tax evasion. He has agreed to fully pay back his former employer, as well as taxes, interest and penalties.
He is scheduled to be sentenced on August 8, and is released on a $50,000 bond pending sentencing.
