- Associated Press - Friday, November 13, 2015

COLUMBUS, Ohio (AP) - The former owner of a Columbus financial management company has admitted to misappropriating more than $840,000 and using the funds for his own use.

The Columbus Dispatch reports (http://bit.ly/1N0OFuO ) 59-year-old Douglas Cowgill pleaded guilty Thursday to wire fraud, theft from an employee benefit plan and perjury.

Prosecutors say the Columbus man stole the money from 2008 to 2013 and then generated false statements for clients to conceal what he had done. He’s the former president and owner of Professional Investment Management.

Cowgill’s attorney, Keith Yeazel, says he believes Cowgill funneled much of the money into a nonprofit swim club where his client was the longtime treasurer.

Cowgill faces up to 30 years behind bars when he’s sentenced next year.

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Information from: The Columbus Dispatch, http://www.dispatch.com

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