Cold Spring Brewing Employee Convicted of Embezzlement
ST. PAUL, Minn. (AP) — A jury has convicted a former controller at Cold Spring Brewing Co. of defrauding his employer, family and friends out of more than $680,000.
The Star Tribune of Minneapolis reports that 34-year-old Adam Martin faces up to 20 years in prison for his convictions on six counts of wire fraud, 10 years for money laundering and a mandatory two years for aggravated identity theft.
Martin was controller at the central Minnesota brewery until November 2014. Prosecutors allege he diverted money from the brewery for personal expenses, including a $106,000 down payment for a house in Sartell.
He was also accused of running a separate Ponzi scheme that conned friends, relatives and acquaintances out of more than $330,000.
It took a federal jury just three hours to convict him Friday.