Updated:
Original:

Charges: Minnesota man stole $350K from brewery where he worked

Author:

A St. Cloud man is being accused of stealing more than $350,000 from the brewery where he worked.

Adam Jonathan Martin, 35, has been indicted on six counts of wire fraud, three counts of money laundering, and one count of aggravated identity theft, U.S. Attorney Andrew Luger announced Tuesday.

Court documents show Martin was a controller at a "Minnesota-based brewery," although the news release doesn't say which one.

The St. Cloud Times, citing previous court documents, as well as his LinkedIn page (which has since been removed) show Martin was employed by Cold Spring Brewing Co. (the company behind Third Street Brewhouse in Cold Spring).

The Star Tribune says Martin started at Cold Spring Brewing Co. in 2007, and charges say he worked there until November 2014.

But in December 2011, investigators discovered Martin had transferred more than $240,000 from the brewery's business checking account to a business brokerage account that he'd opened using his sister-in-law's identity, the charges say.

Martin allegedly used those funds for "various personal expenses," including making a downpayment on a home, the release says.

He's also accused of stealing $30,000 in cash from the brewery, and using the brewery's credit card to pay for $78,000 worth of personal expenses, including a stay at an all-inclusive resort.

In a separate incident, Martin is accused of being involved in a Ponzi scheme. Charges say he bilked $330,000 from friends, relatives and acquaintances who thought they were making legitimate investments. He is accused of using that money for personal expenses and to pay off previous investors. 

Martin is expected to go to trial on Aug. 29, 2016.

Next Up

Mike Zimmer

Vikings miss game-winning field goal, fall to 0-2

Greg Joseph's chip shot attempt as time expired spoiled a late comeback.

Jose Berrios

Berríos leads Blue Jays in first start against Twins

Berríos got the win on Sunday but could the Twins win the deal down the road?

motorcycle

Crash in southern Minnesota kills motorcyclist

The crash happened Saturday at Highway 42 and County Road 14 in Highland Township.

Oli Udoh

Vikings-Cardinals: 5 things you can count on happening

The Vikings need a win in the desert but will they get one on Sunday?

Kyler Murray

How can the Vikings stop Kyler Murray?

The Cardinals quarterback accounted for five touchdowns against the Titans.

Red's Pizza in Oshkosh, Wisconsin

'Landmark' Wisconsin pizza joint to close amid worker shortage

The restaurant has been a local favorite since 1957.

Ky Thomas

Potts, Gopher defense dominate Buffaloes

Trey Potts ran for three touchdowns in a 30-0 victory in Boulder.

police tape, crime scene

Suspect dies by suicide after 11 hour standoff in Wisconsin motel

The standoff occurred at a motel in Balsam Lake.

U.S. district court minnesota - federal court

Four sentenced for home invasion on northern Minnesota reservation

The incident took place in October 2019 on the Red Lake Indian Reservation.

Related

Charges: Project manager stole $350K from employer to build a cabin

The 46-year-old was caught after the CEO monitored his emails.