CINCINNATI (WKRC) -- A local restaurant chain says a former employee embezzled millions from the company.
In a civil lawsuit filed Tuesday morning, Jan. 20, Frisch's seeks to recover more than $3 million from a former employee. Michael Hudson of Clermont County worked more than 30 years in the company's treasury department.
Frisch's is based in Cincinnati.
Hudson reportedly oversaw payroll and is accused of creating fictitious payroll accounts and inflating his own check.
The lawsuit says he transferred the money to himself, his wife, his adult children, two limited liability companies he formed and a business partner. The lawsuit says Hudson used the money to buy property, vehicles and jewelry.
"While we were saddened to learn of these unlawful and fraudulent acts carried out against the company by a trusted and long-time employee, we took swift action as soon as we discovered the fraud," said Craig Maier, Frisch's Chief Executive Officer. "As a precautionary measure, the company is implementing an additional layer of checks and balances in our accounting systems to protect against this type of fraudulent behavior in the future."
The lawsuit says Michael Hudson resigned last month.
Source: Local 12 / WKRC Cincinnati
In a civil lawsuit filed Tuesday morning, Jan. 20, Frisch's seeks to recover more than $3 million from a former employee. Michael Hudson of Clermont County worked more than 30 years in the company's treasury department.
Frisch's is based in Cincinnati.
Hudson reportedly oversaw payroll and is accused of creating fictitious payroll accounts and inflating his own check.
The lawsuit says he transferred the money to himself, his wife, his adult children, two limited liability companies he formed and a business partner. The lawsuit says Hudson used the money to buy property, vehicles and jewelry.
"While we were saddened to learn of these unlawful and fraudulent acts carried out against the company by a trusted and long-time employee, we took swift action as soon as we discovered the fraud," said Craig Maier, Frisch's Chief Executive Officer. "As a precautionary measure, the company is implementing an additional layer of checks and balances in our accounting systems to protect against this type of fraudulent behavior in the future."
The lawsuit says Michael Hudson resigned last month.
Source: Local 12 / WKRC Cincinnati