BATON ROUGE, La. (AP) - The former financial manager for a chemical manufacturing company has pleaded guilty to embezzling more than $1.4 million.
Acting U.S. Attorney Corey Amundson, in a news release, said 54-year-old Wade Barbay, of Baton Rouge, pleaded Wednesday before U.S. District Judge John W. deGravelles to engaging in a wire fraud scheme to defraud his employer, Houston-based Axiall Corporation.
Barbay admitted using his position as director of shared services, which oversaw the company’s corporate credit card program, to embezzle the funds between January 2011 and last May. Amundson says Barbay submitted inflated business expenses of other employees to a credit card company and then directed that company to credit his account for the excess. He also deposited refund checks into his personal bank account.
A sentencing date has not been set.
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