NACOGDOCHES, TX (KTRE) - A Chireno man who embezzled more than $600,000 from his company agreed to a plea bargain deal of 10 years of probation Tuesday.
Roy Love Jr. appeared in a Nacogdoches County court for the plea bargain hearing.
Love was arrested back in June of 2014 after his partners told authorities that Love embezzled more than $600,000 from Nacogdoches Mill Works. Love, Kenneth Willis, and Gerald Schierman founded the company in 1995.
Willis told East Texas News that they had very little money when they started the company. He added that his goal was to save money for his retirement.
"My dream was this company making it," Willis said back in 2014. "I worked all these years, so I can retire, and now it's all gone."
According to the arrest affidavit, Nacogdoches County Sheriff's Office investigators and 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 used the company account to pay for the electric bill at his personal chicken farm. The affidavit 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.
After the investigation was completed, a warrant was issued for Love on May 28, 2014.