A Vouk Transportation Inc. executive has been charged with embezzling more than $250,000 from the trucking company’s pension fund.
From 2004 to 2010, Leander J. Muncy III served as the president, vice president and trustee over the company’s employee profit-sharing program.
“While he was trustee, authorities allege Muncy embezzled $270,707 from the plan, $224,500 of which was taken in the form of checks he wrote to himself or to a company he formed called B&E Transport,” the Trucker reported.
Additionally, the U.S. Attorney’s Office states that Muncy diverted more than $46,000 in loan payments directly into his personal account that were intended for the company’s profit-sharing plan.
On February 2, Muncy pleaded guilty of the charges.
At sentencing, a North Little Rock, Arkansas judge charged Muncy with embezzlement and sentenced him to repay $268,719 in restitution and serve two years in jail.
According to a company profile, the company is privately owned and has 20-50 employees.