Former CFO of Beckley lumber company sentenced for embezzling over $800,000

A former Chief Financial Officer for a Beckley lumber company who embezzled over $800,000 was sentenced to 41 months in federal prison and ordered to pay full restitution.

James Matthew Miller, 43, previously pleaded guilty Dec. 6, 2017, to two counts of wire fraud.

Miller formerly worked as an executive for a lumber company until September 2013. In his role as Chief Financial Officer, his responsibilities included oversight of log inventories from vendors.

From approximately Dec. 31, 2007, to Aug. 30, 2013, Miller admitted that he issued payments to a sham vendor, a close friend of Miller’s, and falsely inflated log inventories to conceal the fraud. He created a fictitious log vendor that has never hauled or delivered logs to the lumber company.

Miller also admitted he created false payment requests and then drafted and signed checks from the lumber company to the fake vendor. The fictitious vendor cashed the checks or deposited the checks in his bank account, then provided Miller with the money, minus a small amount Miller permitted the vendor to keep.

Read more: http://www.register-herald.com/news/former-cfo-of-beckley-lumber-company-sentenced-for-embezzling-over/article_5320a42a-3e7d-5500-bb2b-3c92386f9045.html