ST. LOUIS – A Clayton man who served as the controller of a company pleaded guilty Thursday to a scheme to defraud a bank and the company for which he worked.

Jason Arnold, 38, pleaded guilty to one count bank fraud and two counts of money laundering in connection with a scheme that ran from October 2009 to November 2017.

According to a press release from the U.S. Attorney's Office, Arnold created a fake company with the same name as his employer and a fraudulent bank account for that company. He then deposited 53 checks worth more than $7.3 million into the bank account.

He used the account to buy artwork and wine.

After the guilty plea, he could face up to 30 years in prison and fines of up to $1 million. His sentencing was set for June 14.