LITTLE ROCK, AR - The Chief Financial Officer of ThermoEnergy is accused of using company funds for more than two years to pay for a personal judgement against him. According to the Department of Justice, Andrew Melton was supposed to have his wages garnished, but he ended up expensing them on the company's account.
The DOJ says Melton obtained about $109,575.80 from August of 2006 to April of 2009 using the scheme.
Melton, 66 of Roland, pleaded not guilty in federal court Tuesday to 12 counts of wire fraud. He faces up to 20 years on each count and/or a fine of $250,000.