Businessman found guilty of embezzling nearly $1 million
CLEVELAND (AP) – A jury has found an Ohio businessman guilty of embezzling close to $1 million in employee payroll taxes and retirement plans.
Cleveland.com reports 65-year-old C. David Snyder was found guilty Tuesday of embezzling from an employee pension fund and failure to pay taxes.
Prosecutors say Snyder collected nearly $860,000 in payroll taxes from his employees at Attevo, a now-closed technology consulting company based in Cleveland. He also embezzled more than $126,000 from a 401(k) and profit-sharing retirement plan for employees.
Prosecutors say Snyder used the money to renovate a pool, travel to resorts in Florida and buy women’s clothing at high-end stores such as Nieman-Marcus.
His attorney has declined to comment.
Snyder’s sentencing is scheduled for October.