Former EFI Officer to Testify in Fraud Case

The Lancaster Intelligencer Journal reported that Joseph M. Braas, Equipment Finance Inc.’s senior vice president and chief operating officer, will be a key witness in the trial of former employees Curtis A. and Misty L. Kroesen.

The Kroesens, the only two of the eight defendants not to plead guilty, face identical charges of one count of conspiracy, two counts of mail fraud affecting a financial institution, three counts of wire fraud and eight counts of mail fraud, the article said.

It is alleged in the criminal indictment that as far back as 2001, before EFI was acquired by Sterling, the defendants were engaging in a systematic fraud at EFI. They are charged with colluding in a pervasive scheme to steal money by looting the accounts of EFI and falsifying EFI’s books from 2001 through 2007.

To read the full article click here.

Previously on monitordaily: EFI Defendant Seeks Funds for Travel to Trial, published March 30, 2012

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