Icon (Close Menu)

Logout

Former ThermoEnergy CFO Andrew Melton Convicted of 17 Counts

1 min read

Andrew Melton, who served as chief financial officer for ThermoEnergy Corp. when it was headquartered in Little Rock, was convicted Friday of multiple felonies after a three-day trial in federal court.

Melton, 69, was convicted of 12 counts of mail fraud and five counts of failure to remit the taxes that had been withheld from employee paychecks. U.S. District Judge Billy Roy Wilson will sentence him at a later date.

Federal prosecutors presented evidence that Melton took $109,000 from ThermoEnergy in order to pay a judgment owed to an interior decorator for work done at his home, according to an announcement from the FBI and the U.S. Attorney’s Office in Little Rock.

The jury also convicted Melton guilty of failing to pay to the IRS approximately $1.8 million in payroll taxes withheld from ThermoEnergy employees’ wages from mid-2005 through the first quarter of 2009.

The verdict came more than three years after Melton was indicted.

Send this to a friend