Maynard Solis was sentenced to 16 months in jail for felony theft. Former Versa Products Inc., COO, Christopher Stormer "knew nothing" while company was defrauded thousands of dollars in employee run scams.
Los Angeles, CA -- (SBWIRE) -- 11/24/2014 -- Maynard Solis ex-employee of Versa Products Inc., Manufacturing was sentenced to 16 months in county jail on November 16, 2014 and ordered to full pay restitution for embezzling over $110,000 from the company through a scam. He was indicted for grand theft felony in court case number TA133945. In court, Solis confessed to embezzling over $200,000. Investigators believe the accurate figure to be more then $350,000 and the matter is still under further investigation.
Former Versa Products Inc. (Versa Tables and Thrive Furniture) Chief Operating Officer, Christopher Stormer of Rancho Palos Verdes, said he knew nothing of the fraud or how the scam it occurred. Stormer is the current COO of Stitch Industries Inc., Spring and Stitch, Joybird Furniture. Solis, now a convected felon attempted to to fraudulently seek unemployment benefits from his former employer which is now also under review for more counts of fraud.
Continuing investigations will focus on the alleged misappropriation of company funds, stolen inventory and diverted payments. Present company officials said despite this known fraud, all of the brands are doing extremely well and all security issues are continuing to be monitored.
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Website url - www.lasd.org
Versa Products Inc., 14105 Avalon Blvd, Los Angeles, CA 90061