Chireno man accused of embezzling $600k from business - KTRE.com | Lufkin and Nacogdoches, Texas

Chireno man accused of embezzling $600k from business

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Roy Love, Jr. (Source: Nacogdoches Co. Jail) Roy Love, Jr. (Source: Nacogdoches Co. Jail)
NACOGDOCHES COUNTY, TX (KTRE) -

The Nacogdoches Sheriff's Department has arrested Roy Love, Jr after his partners said he embezzled over $600,000 from their business.Love is a former co-owner of Nacogdoches Mill Works.  The company was founded in 1995 by Love, Kenneth Willis, and Gerald Schierman. Willis said when the three started their company they had very little money.

"We struggled and worked hard. We put our tools together that we had," Willis said

Willis further explained his goal was to save money for his retirement.

"My dream was this company making it. I worked all these years, so I can retire and now it's all gone" Willis said

According to the arrest affidavit, Nacogdoches County Sheriff's investigators along with an independent accountant met with the business owners about the incident in early May of 2013.

The affidavit said that two of the owners told authorities that they felt like the business was struggling at times and that they even put their own money in the company.

Owners told authorities that in 2012 they learned they were being sued by the appraisal district for not paying property taxes.

The affidavit continued saying that when one of the owners contacted the appraisal district they were notified Love had recently paid three years of back taxes.

Investigators said one of the owners started looking at the account for the company and noticed several checks made to companies that had not been hired by their company.

After the initial record checking, the owners hired an attorney and accountant and started looking for more records the affidavit stated.

"[the accountant] found a check Love had written himself for $5,000," the affidavit said.

The accountant told investigators that Love would show reimbursements to himself but would not show any documentation for why he was getting them.

According to the affidavit, the accountant also discovered that Love would use the company account to pay for the electric bill at his personal chicken farm. The account also said that Love purchased gas on several occasions for his vehicle. The affidavit stated that the owners told investigators that Love did not travel as part of his job. Willis later told KTRE that Love did occasionally travel for his job.

The affidavit continued saying that after investigators and the accountant sorted out the records, Love had made $600,147.61 in unauthorized transactions.

Authorities say that due to the statute of limitations for theft, authorities believe Love had written $347,425.18 in unauthorized purchases.

In the end, Willis just want answers and to know the truth.

"I don't want to pass judgment on anybody until it passes through the court system," Willis said.

After the investigation was completed, a warrant was issued for love on May 28.

The owners of Nacogdoches Mill Works said they voted Love out of the ownership group on Oct. 6, 2012.

Love posted a $100,000 bond Tuesday night.

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