Former Collin Street Bakery employee jailed for embezzling more than $16 million
After allegedly sticking his hand in the company cookie jar for 15 years, the corporate controller for Collin Street Bakery finally got caught. Sandy Jenkins, 64, was arrested by the FBI on August 12 in Corsicana for federal mail fraud related to $16.65 million embezzled from his employer.
According to the U.S. Attorney's Office in Dallas, Jenkins manipulated the bakery's computerized accounting system to write checks for his own personal use while still keeping the company books balanced and his fraud disguised.
"The checks to Jenkins' personal creditors were used to bankroll a lavish lifestyle that included a house in Santa Fe, New Mexico; 43 luxury automobiles; frequent travel on private planes; and a watch and jewelry collection worth approximately $3 million," a press release from the U.S. Attorney's Office reads.
Jenkins is believed to have written 888 fraudulent checks dating back to February 1998. Bakery employees discovered the elaborate embezzlement enterprise June 21, 2013, and promptly terminated Jenkins' employment. The FBI searched Jenkins' Corsicana home in July, seizing a host of records used to prepare the charges against him.
Jenkins case is scheduled to go before a grand jury in the next 30 days. He faces up to 20 years in federal prison and a $250,000 fine, per count of mail fraud, if convicted.