Chad Michael Saeugling, a 40-year-old man from Asbury, Iowa, has been sentenced to 78 months in federal prison for stealing over $400,000 from his employer.
According to the U.S. Attorney’s Office, Saeugling was a supervisor at a warehouse in Peosta, Iowa, between 2004 and 2014. During that time, he stole and sold over $400,000 worth of his employer’s goods on the Internet.
Saeugling used his access to a computerized inventory system to falsely adjust the stolen items out of his employer’s inventory to avoid detection. He also used UPS and FedEx shipping labels to send the stolen items to customers.
When Saeugling’s mail fraud scheme was discovered, he agreed to purchase a house from his father. However, in order to secure a home mortgage loan, he made a false statement concerning his income to a federally insured credit union.
Chief Judge Linda R. Reade of the United States District Court for the Northern District of Iowa found Saeugling to have ‘no credibility’ and ‘no conscience.’ The judge also found that Saeugling had violated the terms of his release pending sentencing by possessing firearms and ammunition.
Saeugling was sentenced in Cedar Rapids and ordered to pay a special assessment of $300 and $423,025.52 in restitution to his employer’s insurer. He must also serve a five-year term of supervised release after his prison term.
The case was prosecuted by Assistant United States Attorney Tim Vavricek and investigated by the Dubuque County Sheriff’s Office.
Mandatory Facts: Defendant: Chad Michael Saeugling. Exact Criminal Charges: Mail Fraud and two counts of Making a False Statement to a Financial Institution. City and State: Peosta, Iowa. Exact Date: Not specified. Sentence: 78 months in federal prison. Dollar Amounts: Over $400,000.
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Key Facts
- State: Iowa
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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