A 66-year-old man was arrested on March 27 and booked into the El Paso County jail. He's being held on suspicion of theft and embezzlement.
The charges stem from an investigation by the El Paso County District Attorney's Office, which the Cascade Metropolitan District's board of directors asked to be opened. The board believed that there was nearly $800,000 embezzled from the water district. According to documents detailing a recent meeting of the county commissioners, nearly $500,000 of the allegedly embezzled money was supposed to pay for water for the district from Colorado Springs Utilities.
The man is being held in jail on a bond of $1 million. His charges are theft between $100,000 and $1,000,000 and embezzling public property.
Charges involving white collar crimes are serious. They can result in years in prison, hefty fines, community service and restitution. In some cases, someone facing such charges may be able to avoid the strictest punishments by repaying the money that was taken; however, that is something that the prosecutor, the alleged victim and the defense would need to work out in a plea deal.
Many companies have built-in systems that signal when there is a chance that embezzlement has occurred. This allows companies to try to locate the missing funds, if there are any. In addition, it is likely easier to determine who might have taken the funds the sooner an investigation is started.
An experienced criminal defense attorney can provide abundant information about white collar crimes. Everyone deserves a fair trial, no matter what criminal charges he or she is facing.
Source: The Gazette, "Former El Paso County water manager arrested, held on $1 million bond," Stephen Hobbs, March. 30, 2015