Sioux Falls Man to Serve 18 Months, Repay $430,000
A 43-year-old Sioux Falls, S.D., man was ordered to serve 18 months in prison and repay nearly $430,000 he stole from his employer over more than four years.
Kyle Barfoth pleaded guilty in federal court in Sioux Falls to embezzling from an insurance business, which carries a maximum penalty of up to 10 years in prison, a $250,000 fine and restitution.
Between January 2004 and September 2008 he embezzled $429,780 from Insurance Facilities Inc. while employed as a bookkeeper.
Prosecutors said Barfoth created additional payroll checks on the company’s account and issued them to himself, then deposited those falsified checks into his personal bank accounts.
Copyright 2024 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.