A Marshalltown man has admitted to defrauding the company where he worked as the chief financial officer.
Michael Allison, 48, pleaded guilty to mail fraud Tuesday, according to the U.S. Department of Justice for Iowa's southern district.
Allison worked as the CFO and director of finance at a regional subsidiary of Airgas, Inc. He admitted to mailing falsified expense reports to the regional accounting office, passing off personal expenses as business related and fabricating others. From January 2003 to December 2012, Allison stole approximately $625,000, according to court documents.
In one instance, Allison claimed the company owed him $9,000 for Ryder Cup golf tickets and expenses even though the tickets were for personal use, according to the plea.
The criminal docket for the case shows that the department of justice filed the charges June 14.
Although Allison pleaded guilty, the state dismissed no charges, according to the plea agreement. The plea agreement prevents Allison from selling, distributing or transferring any of his assets without court approval. Allison was allowed to remain on pre-trial release until his plea Tuesday.
Airgas, Inc. suspected Allison's crimes and referred the case to the Federal Bureau of Investigation. The U.S. Attorney's Office for the Southern District of Iowa prosecuted the case.
Judge John Jarvey, with the U.S. Attorney's Office for Iowa's southern district, will sentence Allison on the charge Oct. 9. Mail fraud is punishable by up to 20 years in prison and a $250,000 fine.