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Former exec of Mars candy subsidiary pleads guilty to stealing $28M from company
Paul Steed diverted over $26 million to a fake company he created, agreed to forfeit $18 million in assets, and owes $10 million in back taxes for his theft from Mars Inc.
- Paul Steed, 58, a former executive for a Mars Inc. subsidiary, pleaded guilty to fraud and tax charges for stealing $28 million from the company.
- Steed sent over $26 million of the stolen funds to his company MCNA LLC, mimicking an actual Mars company.
- Steed agreed to pay $28.4 million in restitution to Mars and $10 million in back taxes, and faces sentencing on December 9.
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The said executive has agreed to pay 28.4 million in restitution and owes 10 million in taxes
Associated Press News+16 Reposted by 16 other sources
Former exec of Mars candy subsidiary pleads guilty to stealing $28M from company
A former executive for a subsidiary of candymaker Mars Inc. has pleaded guilty to fraud and tax charges in connection with his theft of $28 million from the company.
·United States
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Total News Sources24
Leaning Left6Leaning Right2Center9Last UpdatedBias Distribution53% Center
Bias Distribution
- 53% of the sources are Center
53% Center
L 35%
C 53%
12%
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