.

Man Sentenced for Stealing Over $300,000 From Oswego Businesses

Fredric Magis, 49, used the money to purchase airline tickets, cruises, payments on his own credit cards and more.

Fredric Magis | Credit: OPD
Fredric Magis | Credit: OPD

A Plainfield man has been sentenced to 10 years in the Illinois Department of Corrections for a class 1 felony theft, according to Kendall County State’s Attorney Eric Weis.

Fredric Magis, 49, of Plainfield, was charged with a class 1 felony theft after being convicted of stealing over $300,000 from an Oswego business.

Magis, an employee of KR & G Excavating Partners LLC and Stonehill Leasing, Inc., was found to be making unauthorized purchases with the companies’ credit cards and also transacting unauthorized wire transfers from the companies’ bank accounts  and using other company monies for unauthorized purchases.

The thefts occurred between Jan. 1, 2010 and Dec. 31, 2011. Oswego Police discovered the companies’ credit cards and bank accounts were used to finance a 2007 Cruisers 300 CXI boat, airline tickets, cruises, flooring for his home, other online purchases, medical bills, food and gasoline, and to make payments to his own credit cards.

The total amount stolen is in excess of 300,000 between KR & G Excavating and Stonehill Leasing.

“This is a case where the trust of a local business was betrayed by its own employee.  It is hard to believe that someone who works side by side with you can be stealing from you,” said State’s Attorney Weis. 

“Hopefully, this case will serve as a reminder that anyone can be a victim of financial theft.  Business owners should review their financial activities regularly and put safeguards in place to prevent this type of theft from occurring in the first place.”

Magis will be required to serve two years of mandatory supervised release following his 10-year sentence.

Restitution was addressed in a separate civil action filed against Magis by the business owners.

Weis said this has been the largest employee theft case handled in his office in the last five years

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something