A Lenoir man was sentenced to a four-year prison term after pleading guilty in federal court to embezzling more than $1 million from his employers, according to a news release from the U.S. Attorney’s Office for the Western District of North Carolina.
Richard Allen Clark, 55, will also be on supervised release for three years and will have to pay more than $1 million — $980,000 to the businesses he defrauded and nearly $200,000 to the IRS.
Court records show Clark entered his guilty plea in June.
He admitted misdirecting funds from the businesses he worked for to his own use between 2013 and 2019, according to the release.
The specific businesses were not named in Clark’s indictment or the release, where they were simply referred to as “two family-owned businesses in Lenoir.”
In one instance, Clark defrauded the company by keeping open a bank account his employer told him to close and directing clients to deposit funds in that account, according to the release.
The misappropriated money was used for Clark’s house and vehicle payments, travel and a home theater, according to the release.