Grand Jury Indicts Former Executive at Collin Street Bakery
Defendant Sandy Jenkins, Who Allegedly Embezzled More Than $16 Million from the Bakery, Charged with 10 Counts of Mail Fraud
|U.S. Attorney’s Office September 12, 2013|
DALLAS—A federal grand jury returned an indictment late yesterday charging Sandy Jenkins, 64, of Corsicana, Texas, with 10 counts of mail fraud stemming from his alleged embezzlement of approximately $16 million from his former employer, the Collin Street Bakery (bakery) in Corsicana. Today’s announcement was made by U.S. Attorney Sarah R. Saldaña of the Northern District of Texas.
Jenkins served as the corporate controller for the Bakery from February 1998 to June 21, 2013. On June 21, 2013, Jenkins was terminated after the Bakery discovered the alleged fraud.
In particular, according to documents filed in the case, Jenkins caused Bakery checks to be written to his personal creditors and then manipulated the Bakery’s computerized accounting system to show that the checks had been voided. To keep the Bakery’s books in balance and further disguise his fraudulent activity, Jenkins created checks in the Bakery’s accounting system purporting to go to an approved vendor in the same amounts as the checks to his personal creditors. 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.
The indictment alleges that between 2005 and 2013, Jenkins caused approximately 888 fraudulent checks to be written on the Bakery’s account and mailed to Jenkins’ personal creditors, resulting in losses to the Bakery of approximately $16,649,786.00.
The investigation regarding assets is ongoing. Restitution to the victim is mandatory upon conviction in this case. The United States has various civil and criminal forfeiture and restitution collection remedies at its disposal and makes its best efforts to maximize recovery for victims of crime. As a legal and practical matter, the seizure and liquidation of assets may be a lengthy process due to various laws that affect the rights of third parties.
The investigation is being conducted by the FBI. Assistant U.S. Attorney J. Nicholas Bunch is in charge of the prosecution and Assistant U.S. Attorney Melissa Childs is handling the forfeiture.