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.
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