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Construction Safety Dispatch Articles
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The former vice president of Azteca Construction Inc. of Rancho Cordova has been found guilty of embezzling from the company. The trial brief states the loss to be $195,000.
Thomas Tanke, 67, previously of El Dorado Hills and presently of Monument, Colo., was found guilty of two counts of mail fraud and five counts of bank fraud for embezzling funds from the company following a five-day jury trial in U.S. District Court in Sacramento, says U.S. Attorney Benjamin Wagner.
Mr. Tanke ran the company’s East Coast operations from Azteca’s corporate office in Rancho Cordova and conducted construction management for various California projects. As part of his job responsibilities, he approved payments for vendors and suppliers.
Construction Equipment Rental & Services (CERS) owned much of the construction equipment and trucks that Azteca leased in its operations. The jury agreed with federal prosecutors that Mr. Tanke embezzled funds from Azteca and CERS by depositing checks made out to the companies into his own bank account. He also defrauded Azteca by using Azteca checking accounts to pay for his own personal expenses.
Evidence presented at trial showed that in 2004, when Azteca and CERS were winding down operations and selling off equipment, third party purchasers issued checks to buy the equipment but Mr. Tanke obtained the checks and deposited them into his business bank account. Some of the checks were for more than $30,000.
The trial revealed that he also got Azteca to issue checks for payment to his various personal creditors, and in many instances, he signed the checks. Moreover, in some instances, Mr. Tanke submitted false invoices to suggest that the payments were for legitimate company expenses. For instance, he submitted invoices for payment to “AFS” purportedly for a construction project. In reality, “AFS” was “Audi Financial Services,” and Mr. Tanke was paying for his personal vehicle from company funds. He also paid off personal credit cards, bought jewelry, and bought an expensive bicycle using company checks.
Mr. Tanke is scheduled for sentencing on March 2, 2012 when he faces a maximum sentence of 20 years in prison for each count of mail fraud, 30 years in prison for each count of bank fraud, and a $250,000 fine for each count.
Source: Central Valley Business Times
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