Executives of Utah Company Suspended for Embezzlement
Posted on Nov 22, 2009 2:07pm PST
Yesterday, executives from a Utah tribal development company were suspended after being accused of financial misconduct.
According to the Northwestern Band of the Shoshone council in Salt Lake City, their Chief Operating Officer, Mike Devine, allegedly took reimbursements from the NWB Developmental Company. They claim Devine used the funds for non-business related expenses, such as paying his mortgage, traveling, entertainment and even dining.
At this time, the council would like to suspend Devine only, but their Chief Executive Officer (Bruce Parry) insisted that he be suspended too. Awhile back, Parry resigned his position as CEO because he was being accused of
embezzlement, corporate mismanagement and tax fraud by authorities.
When asked about the accusations, Devine said, "I'm absolutely certain we'll withstand any scrutiny."
The accusations came into existence after Chase Parry, the grandson of Bruce Parry, discovered that the company was failing to pay its bills and was being threatened with lawsuits for non-payment. After his discovery, Chase Parry contacted the federal Small Business Administration and also the state and federal tax authorities, which led to investigations being launched by law enforcement.
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