Sears Manager Pleads Guilty To Fraud
The former operator of a Sears Outlet Store in Middletown, Rhode Island has pleaded guilty in U.S. Federal Court to defrauding the company of more than $150,000. Fifty-three year old Joseph Kilty of Wakefield, Rhode Island entered the plea Thursday in federal court in Providence.
Kilty told the court that between January, 2012 to June, 2013 he failed to deposit $154,000 into a Sears account, and instead diverted the money into personal bank accounts that he controlled. Kilty also admitted to creating false documents to make it appear that the deposits into the Sears account had been made.
Kilty is scheduled to be sentenced on September, 18th. He could have up to 20 years in federal prison, and fines totaling at least $250,000 dollars.