Missouri Exec Stole $1.5M to Fund Travel and Gambling Expenses

The culprit admitted to his transgressions and acknowledged his guilt in a case that was brought in front of the US Attorney’s Office for the Western District of Missouri Image Source: Shutterstock.com

A man, who is based in Vernon Countyin Missouri, has pleaded guilty to several charges. His case stems from the embezzlement of $1.5 million, which the culprit used to fund his travel and gambling expenses.

The news was shared by the US Attorney’s Office for the Western District of Missouri, with the man admitting to the charges. Identified as J. R. M. for his initials, and 55 years of age, the man told US District Judge Greg Kays on Wednesday that he had indeed committed wire fraud and filed a false tax return.

Culprit Hid His Expenses by Entering False Business Expenses

M. had access to corporate finance for three decades, from 1994 through 2023, during which time he syphoned off funds through unauthorized checks to his personal accounts.

“Marquardt spent most of the money on personal expenses, including travel and gambling online and at casinos,”an official statement detailing the case read. He purposefully omitted these expenses and transactions from the QuickBooksledger.

He would then log false business records to try and hide the breadth of his transgressions. M. now faces up to 20 years in federal prisonwithout parole for the wire fraud count alone, with another 3 years added for his false tax return count.  A sentencing hearing is still to be scheduled.