St. Louis, MO (KSDK) - A 35-year-old Oakville man pleaded guilty Thursday to embezzling money from his former employer, U.S. Attorney Richard Callahan said.
According to court documents, Terry Tonsing Jr. worked as a finance officer for C2 Communications, a marketer of Internet services, between 2003 and his departure from the company in February 2007.
During that time, Tonsing dispersed company funds to himself and cancelled actions from company shareholders. He used the company credit card for personal food, travel, entertainment and the mortgage on his home.
Tonsing hid his activities by having the company bank statements sent to his personal address.
Prosecutors said Tonsing fell behind in paying C2 Communications' business expenses, including federal withholding taxes. The total loss brought on by Tonsing's activity is estimated at $68,000.
Tonsing pleaded guilty to one felony count of mail fraud. He faces up to 20 years in prison and/or fines up to $250,000, as well as mandatory restitution, when he's sentenced on February 24, 2012.