Ponca City, OK

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Edmond man admits to embezzling $755,000 from his employer

The Associated Press - March 30, 2019 11:04 am

OKLAHOMA CITY (AP) – An Edmond man has admitted to embezzling more than $755,000 from his employer and has admitted to tax fraud.
Court documents show 74-year-old Odis Aubrey King admitted in a plea agreement on Thursday that he wrote more than 200 company checks to himself from 2009 to 2015 and forged the signature of the owner of the company, Oklahoma City-based Den-Con Tool Co., onto the checks. He also admitted to filing false tax returns by failing to report the money as income.
In the plea agreement, King wrote that the guilty plea is in his “best interest.”
He also agreed to pay more than $755,000 in restitution and more than $115,000 in back taxes.
King faces up to 13 years in prison and $350,000 in fines when he’s sentenced in about 90 days.

 

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