ST. LOUIS – A former Webster Groves man has been sentenced to prison time for diverting more than $500,000 of money from clients for personal use.
Cary Jordan, 52, who currently lives in Florida, pleaded guilty in February to two felony counts of mail fraud. On Thursday Jordan was sentenced to 18 months in prison and ordered to pay $519,975 in restitution.
Court documents state Jordan owned and operated Jordan Group, a business that assisted in placing advertisements. The company would find media outlets for ad campaigns, and negotiate rates on behalf of its clients. A pre-bill would be sent to the client based on the price and estimated number of spots negotiated. Clients then paid Jordan Group.
After the ads aired, the media outlets would bill Jordan Group for the price and number of ads used. Jordan Group would pay the bill from the money it received from its client.
Authorities say Jordan Group stopped paying media outlets between January 2008 and October 2008 because Cary Jordan was diverting money for personal use.