Man accused of embezzling $2.9M from Medical Mutual

A Sheffield Lake man has been charged with embezzling about $2.9 million from Medical Mutual, according to U.S. Attorney Steven M. Dettelbach.

Joseph F. Satava III, 69, is accused of taking the money from his employer between August 1997 and November 2013.

According to a news release, Satava held the position of manager of credit and collections for 20 years with Medical Mutual.

In that position he had the authority to request and approve checks in amounts up to $5,000 and found a way to secure funds for his personal use, according to the release.

According to Dettelbach, Satava issued insurance reimbursement checks to new accounts but deposited the checks into his personal accounts.

According to the news release, he produced at least 1,382 reimbursement checks that he forged, countersigned and deposited during his time at Medical Mutual.

He used the funds to pay for living expenses that were otherwise beyond his means, such as furniture and other household items, his adult son's personal expenses, a car loan, travel and personal vacations and a retirement home on Lake Erie, according to the news release.


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