MINNEAPOLIS (WCCO) — A St. Paul man is charged with stealing more than $350,000 from a Minnesota brewery, and stealing almost as much from others in an alleged Ponzi scheme.
The United States Attorney’s Office says 35-year-old Adam Jonathan Martin is charged with six counts of wire fraud, three counts of money laundering and one count of aggravated identity theft.READ MORE: 2 Killed, 3 Injured In Crash Involving Stolen Vehicle, Police Say
Martin worked as a controller at an undisclosed brewery from 2011 until 2014.
FBI investigators found that Martin transferred $240,000 from the brewery to a business brokerage account he set up, using his sister-in-law’s name as the director.READ MORE: Minnesota Weather: Significant Snow Band Could Push Into Twin Cities Friday
Martin allegedly used the stolen funds to make a $106,000 down payment on a home. He is also accused of using the company’s credit card to pay for $78,000 worth of personal expenses, including an all-inclusive resort vacation.
Investigators say he also stole about $30,000 in cash from his former employer.
Martin is also accused of bilking family, friends and acquaintances out of about $330,000 in an alleged Ponzi scheme, using the funds to pay off other investors and for his own expenses.MORE NEWS: 'Don't Look At Me': Armed Robber Casually Walks Into Minneapolis Home In Broad Daylight
His trial is set to begin on August 29.