Former Chief Financial Officer of the Boyd Group Pleads Guilty to Stealing More Than 3.5 Million Dollars

Topics:  The Boyd Group

U.S. Attorney’s Office, Eastern District of Missouri
10 October 2019

FOR IMMEDIATE RELEASE

St. Louis, MO – Bryan G. Vonderahe, 45, of Kirkwood, Missouri, pleaded guilty to three felony counts of wire fraud. Vonderahe appeared in federal court today before U.S. District Judge Ronnie L. White who accepted his plea and set his sentencing date for January 16, 2020.

According to court documents, beginning during January 2012 and continuing through January 2019, Vonderahe schemed to defraud The Boyd Group and its affiliated companies where he was employed as chief financial officer and controller. Vonderahe issued approximately 500 company checks to himself during that period of time, totaling approximately 3.8 million dollars, without the knowledge or authority of the company’s ownership. Vonderahe falsified internal company records and issued false financial statements to the company’s outside auditors in order to cover up and conceal his fraud scheme. Vonderahe used the stolen and embezzled funds for his own personal use, unrelated to the legitimate business of the company, including to pay for travel for himself and his family to locations such as Florida, Colorado, and Nevada; to make payments on his personal residential mortgage; and to pay for gambling and related activities.

“It is unfortunate that some people are willing to betray the trust placed in them,” said Special Agent in Charge Richard Quinn of the FBI St. Louis Division. “But when it occurs, we will aggressively act to protect businesses and the public from fraud and corruption.”

As part of his guilty plea, Vonderahe agreed to forfeit to the United States a GMC Acadia Denali; a Land Rover, Range Rover Sport; and his residence at 1943 Windy Hill Road, St. Louis, MO 63122.

Vonderahe faces a maximum penalty of 20 years in prison and a $250,000 fine as to each of the three counts. Restitution is also mandatory. In determining the actual sentence, a judge is required to consider the U.S. Sentencing Guidelines, which provide recommended sentencing ranges.

The Federal Bureau of Investigation is investigating this case. Assistant U.S. Attorneys Hal Goldsmith and Kyle Bateman are handling the case for the U.S. Attorney’s Office.