- Associated Press - Tuesday, April 19, 2016

GRANITE FALLS, Minn. (AP) - The former chief financial officer for a large industrial contracting company from Granite Falls is charged with embezzling $5.7 million from her employer.

Federal prosecutors say 38-year-old Kirsten Tjosaas bought five houses, at least three cars and several recreational vehicles with the money she siphoned from Fagen Inc. between 2006 and 2015. She’s charged with wire fraud and money laundering.

The charges say Tjosaas deposited money into a Granite Falls bank account she opened for Fairmount Investments, a Nebraska company that she controlled.

Her attorney, Timothy Webb, says his client is working with the government to liquidate assets and return the missing funds to Fagen. The company has built ethanol plants, wind farms, chemical plants and grain elevators.


Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide