[JohnBT]

I just saw this on rec.guns. I'm in the wrong job.

http://story.news.yahoo.com/news?tmpl=story&cid=573&ncid=757&e=6&u=/nm/20041210/od_nm/odd_theft_dc

JT
_________

Following in Mom's Footsteps, All the Way to Jail?

Fri Dec 10, 9:33 AM ET Oddly Enough - Reuters


PHILADELPHIA (Reuters) - U.S. federal prosecutors charged a man on Thursday with embezzling more than $10 million from a company where he was chief financial officer, one year after his bookkeeper mother was convicted of stealing $1.3 million from a synagogue.

Denis Schusterman was accused of siphoning money from Kimber Manufacturing, a firearms company in Yonkers, New York, to his own bank account, according to U.S. Attorney Patrick Meehan of the eastern district of Pennsylvania.

His mother Betty Schusterman is serving a 51-month federal prison sentence in Danbury, Connecticut, after being convicted last year of participating in the theft from Temple Sinai in Dresher, Pennsylvania, between 1991 and 2000.

Denis Schusterman, formerly of Fort Washington, Pennsylvania, used the money to produce three movies, start a financial services firm, and purchase a $2.2 million home in California, the prosecutor said.

[jefnvk]

All I am getting is the yahoo frontpage.

[JohnBT]

I fixed it. Poorly executed cut and paste. JT

[R.H. Lee]

I'll bet this happened over a long period of time, and should have been caught early on. Most companies are too cheap to hire decent accountants who will reconcile the checkbook, and this is what they get. :)

[Lockbar]

Just plain old Disgusting! Mom and son, both creeps and leeches on society. :cuss:

[buy guns]

that sucks but i would like to know why this guy didnt just leave the country instead of hang around and wait to get caught.

[dukeofurl]

Hmmm. I wonder if there's any relation to Dennis from the custom shop AKA Mr "I shot your gun and couldnt get it to fail"

[cstreu1026]

I'm not sure which is sadder. That he and his mother are thieves or that he, as the CFO for a firearms manufacturer, purchased a $2.2 Million house in California.

[Edmond]

That is just plain sick and greed. I'm sure he was making a pretty salary and benefits package already as a CFO, but he just wanted more. Look where he learned it from!

[dukeofurl]

What the news article fails to mention is that the "2.2 million dollar house" is a 4 bedroom 3 bath on 1/4 of an acre somewhere in orange county. :P

[Kenneth Lew]

I'll bet this happened over a long period of time, and should have been caught early on. Most companies are too cheap to hire decent accountants who will reconcile the checkbook, and this is what they get.

Of course it was pretty easy since all the accountants answered to him. He also had access to general ledger, chart of accounts, and etc. Definitely a problem with internal controls within the company.

[straightShot]

Hmmm. I wonder if there's any relation to Dennis from the custom shop AKA Mr "I shot your gun and couldnt get it to fail"

Wow, I had the very same conversation! Amazing!

[JimC]

Hmmm. I wonder if there's any relation to Dennis from the custom shop AKA Mr "I shot your gun and couldnt get it to fail"

That was the first thing that came to mind for me also.

If it is, it just goes to show the depth of his arrogance. :cuss:

[Waitone]

Doubt if it explains Kimber's pricing strategy, if there is one.

[jsalcedo]

10 mil is a bunch of money for a firearms company to lose.

I'm surprised it wasn't missed.

[pittspilot]

He was the internal control.

[Rabid Rabbit]

Just got off the line with Kimber about a warranty issue. I mentioned the CFO and the CSR said he hasn't been there for 3-4 years. It just took the Feds this long to get around to him. So I doubt there is any immediate danger of Kimber going under due to this guy stealing.

[hecks68]

Get ready to pay high prices for guns