Former Marysville resident, Larry Lord, age 63, pleaded guilty to embezzling more than $500,000 from the commercial construction company, Cheney Construction, Inc. in Manhattan that he worked for from 1995 to 2012.
He embezzled the money from the company’s bank account to pay his personal expenses, including credit card debt for him and his wife. In order to cover his tracks, he would make it appear that checks were written to a legitimate payee by falsifying Cheney’s check register log. Lord also failed to report the embezzled funds on his federal income tax between 2006 and 2011 resulting in taxes owed in the amount of $103,000. He will be sentenced July 1 and faces a maximum penalty of 20 years in federal prison and a fine up to $250,000 on the mail fraud count and a maximum penalty of 3 years in federal prison and a $250,000 fine for the income tax charge.