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St. Paul embezzler of $1.2 million heads to prison

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in Compensation and Benefits,Human Resources

A St. Paul man who once worked as the controller of an insurance company is headed to prison following his conviction for a 20-year scheme to embezzle more than $1.2 million from his former employer.

John W. Rowan pleaded guilty to wire fraud. He was sentenced to three-and-a-half years in prison, plus three years of supervision after his release.

An executive at Garry Insurancenter in North St. Paul, Rowan wrote himself 150 checks totaling $1,216,218 over several years. Most of the haul came from inflating his own quarterly bonuses. He used the money to pay his children’s private school tuition and other family expenses.

Advice: Always have more than one set of eyes on the books. Regular audits by an outside accounting firm should be able to catch any internal shenanigans.

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