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Holy Cow CEO enters guilty plea

When you work in a position of power within a company, you are typically held to a very high standard thanks to the responsibilities associated with your position. Of course, there are positives and negatives to this. On the one hand, it can mean a higher salary and improved employment opportunities in the future. However, it also means you can be closely scrutinized, and any mistake could have serious consequences, or even lead to an internal investigation.

For example, if there are found to be discrepancies in company finances or it appears that you may have used the company in any way as a front for illegal or otherwise dishonest activity, you could be accused of committing a white collar crime. These are generally offenses involving a business or other commercial venture and are often financially motivated.

In one such case, the CEO of cleaning product producer Holy Cow has pleaded guilty after being charged with wire fraud. It has been alleged that he misrepresented the company's debts and used funds for his own personal gain. As a result, he has since agreed to pay restitution. This could be a sum of $2.9 million or more.

Charges like this can greatly damage your reputation, not to mention put you at risk of serious penalties. A conviction could even result in a lengthy prison sentence and even if not, it is likely that you could lose your job. As such, a good defense is critical if you are facing charges of this nature. An attorney may be able to advise you about your options and help you prepare for your trial and protect your future.

Source: Rocklin and Roseville Today, "CEO of Rocklin Business Pleads Guilty to Fraud," Sep. 8, 2015

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