CFO to serve 3 years for embezzlement of company funds

From The Roanoke Times, “A judge sentenced a former corporate chief financial officer to serve three years in prison for taking more than $400,000 from his Roanoke employer.

Wallace, who was convicted in June of two embezzlement counts, obtained money using a credit card, unauthorized checks and wire transfers during 2014, 2015 and 2016, prosecutors have said. He stole while also receiving $120,000 in annual salary for his work as chief financial officer and IT manager.

“He devastated our company,” Andy Chocklett, a company co-owner and vice president, testified of Wallace, who was with Chocklett Press for 18 years.

Wallace, 43, told Roanoke Circuit Court Judge William Broadhurst that he knew the company was having financial issues while he depleted its funds.”

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