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Hearing aid company executives face federal fraud charges

Oregon residents may be interested in a case in which five employees of Starkey Laboratories -- an international manufacturer of hearing aids based in another state -- have been charged with the theft of over $20 million from the company. Three of the accused individuals were executive members of the company. The federal charges that they are facing include wire and mail fraud and conspiracy to participate in money laundering.

According to court documents, the 59-year-old former company president, 58-year-old chief financial officer, and the 63-year-old human resources vice president were all dismissed last year when their fraudulent activities came to light. It is alleged that the president orchestrated the siphoning of company funds through fake businesses and bogus entities. It is further claimed that he transferred a luxury vehicle that belonged to the company onto his own name.

The former chief financial officer is accused of embezzling millions, including purchasing a condo with company funds. The human resources executive allegedly falsified payroll reports to conceal fraudulent payments such as his own bonuses. According to prosecutors, the other two defendants were both friends of the company president.

Whenever an Oregon resident is facing federal fraud or other criminal charges, he or she may find comfort knowing that an attorney will likely strive to focus on a strategy that is aimed at achieving the best possible outcome. However, before deciding on a defense strategy, the lawyer may launch an independent investigation to uncover the true events. Regardless of the facts of the case, the attorney will endeavor to provide the most effective defense against the charges.

Source: mprnews.org, "Charges: Former Starkey execs and associates stole more than $20M from company", Sept. 21, 2016

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