A tearful Smith apologized in court to the business owners. “I hurt a lot of people and I hope that someday you will forgive me,” he said.
After the hearing, a check for $202,599 was given to the business owners as partial restitution, county Prosecutor Tony Kendell said.
Smith initially was arrested in spring 2013 on felony charges of engaging in a pattern of corrupt activity, theft and telecommunications fraud for the alleged embezzlement from Long & Associates Inc. of West Milton. The company provides management services to trade associations and professional societies.
Kendell said the business owners have repaid their customers using funds intended for the owners’ retirement. “Hopefully we can get their retirement fund refunded and they will be back in good shape,” he said.
Kendell said Smith was living in “close to a half million dollar house that was furnished lavishly” and along with a housemate owned “in the neighborhood of a dozen vehicles.” Smith had no prior criminal convictions, defense lawyer Robert Huffman Jr. said.
Judge Christopher Gee was told total loss was $412,936. Smith will be responsible for paying the balance of the restitution minus a $50,000 insurance payment.
Smith was an accountant at the business from 2006 through 2012, according to a report by the West Milton Police Department.
Police alleged Smith between March 2010 and December 2012 made 220 fraudulent wire transfers and bank fraud transactions to obtain around $350,000 from client accounts and stole additional cash.
The company’s lawyers also sued Smith last year saying he was responsible for the receipt, accounting and deposit of client money before he resigned Nov. 12, 2012. After the resignation, the company said it discovered “a widespread and ongoing embezzlement of corporate and client funds.”
Huffman said the plea bargain for a recommended two-year sentence and restitution was part of a “global resolution” of the lawsuit.
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