Tribune staff reports
A Seymour company’s efforts to recover more than $500,000 in missing funds from a former bookkeeper is set to begin at 8:30 a.m. today in Jackson Superior Court I.
In the lawsuit filed in June 2015, officials with EngineAir Inc., 927 N. Shields Ave., contend Angela Kincaid wrote company checks and deposited them into her accounts in 2014 and 2015.
Kincaid, who recently pleaded guilty to one count of wire fraud in federal court in Indianapolis in connection with the case, could not be reached for comment. She faces a potential prison sentence of 20 years and a $250,000 fine if Judge Richard L. Young accepts the plea agreement. That agreement also calls for the government to dismiss nine other counts of wire fraud.
The missing funds were discovered May 18, 2015, during a transfer of money to pay a vendor, according to court documents.
The total amount of missing money from the period that began Aug. 7, 2014, and ended May 15, 2015, was $627,512.54, according to court documents.
Besides EngineAir Inc., some of the missing funds came from the accounts of three related businesses, JMA Rail Products, 835 E. 10th St., Seymour, and JMA Railroad Supply Co. and New Vision Manufacturing, both of 927 N. Shields Ave., Seymour.
As part of the plea agreement, Kincaid has agreed to surrender her ownership and interest in certain money and property seized by the government during the investigation.
The total value of the property to be surrendered to the victims is $80,293.56. The list of that property includes 35 assorted firearms, real estate in Willowock, Lake County, Ohio, two 2015 season tickets for the Cleveland Browns and 84 various musical instruments, including electric, bass and acoustic guitars, banjos and amplifiers and speakers.
The lawsuit contends Kincaid used a series of forgeries and bookkeeping techniques to disguise her activity.
Allegations made in a lawsuit are the opinion of the person filing them and can be refuted at trial.
The lawsuit also names Lonny Kincaid, Angela’s husband, who may be a joint owner on the account where the missing funds were deposited. Centra Credit Union also is listed on the complaint because Kincaid held an account through that financial institution, according to court documents.
The complaint for injunctive relief and damages was filed with Jackson Superior Court I on May 22, 2015.
William Stevens, president of the company, was alerted to the company’s checking account balance of $2,000 when it should have been $178,000, according to court documents.
Stevens immediately requested his principal accountant out of Chicago to evaluate the balance. That’s when the missing funds were discovered.
It also was discovered that during the course of 10 months, Angela Kincaid wrote 101 checks on a company checking account, and the money was deposited into other accounts she either owns or controls, according to court documents.
EngineAir, which began operations in 1988, provides remanufactured and selected new engine components for EMD and GE locomotives.