6/3/13 - Two area men accused of pocketing millions of dollars from a non-profit company for over a decade have entered pleas to felony charges. 67-year-old Jerry Stage of New Hudson, the former CEO of the Compensation Advisory Organization of Michigan or CAOM, is said to have embezzled approximately $2.6 million during an eleven-year period while 55-year-old George Bauer of Commerce Township, the companyâs bookkeeper, covered up his tracks. Stage recently pleaded guilty as charged to embezzling more than $100,000 and conspiracy. Stage will be sentenced in September and both charges are felonies punishable by up to 20 years in prison. Bauer also pleaded guilty as charged to a felony count of conspiracy to embezzle and will be sentenced June 26th. They entered the pleas in Wayne County Circuit Court and together must repay $2.6 million per a joint restitution order. An investigation was conducted by the Michigan Attorney Generalâs Office, which says Stage submitted false or inflated expense reports for family vacations and other items but also inflated his own pay raises and bonuses before retiring in July of 2012. At that time, a review of expenditures was conducted to assess the companyâs financial health. A number of financial reporting irregularities were discovered and the company then retained a firm to conduct an official audit, which revealed Stage embezzled millions. The office says Stage paid Bauer to help him cut checks to himself, and for Bauerâs continued silence. (JM)
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