Police have suspected him of stealing $425,000 worth of inventory from Cast Nylons Limited on Hamann Parkway he
WILLOUGHBY -- Police here think they have their suspect.
On May 6, Glen Knight, 45, of Mayfield Heights, was arrested on an outstanding grand theft warrant.
Police have suspected him of stealing $425,058.50 worth of inventory from Cast Nylons Limited on Hamann Parkway here.
Knight was arraigned on the arrest warrant at the Willoughby Municipal Court on May 7 and a preliminary hearing is scheduled for 1 p.m. Thursday.
Knight posted the $25,000 bond and is represented by attorney Thomas Mayernik.
Police say that, on Feb. 28, officials at Cast Nylons Limited reported the theft to the Willoughby Police Detective Bureau.
At first police and the company suspected that Knight, who was employed as a material handler for Cast Nylons Limited, had stolen approximately $175,000 worth of inventory.
However, police say the two-and-half-month investigation showed that Knight had removed parts for a robotic arm assembly, brass bushing inserts, sheave molds, fanuc molds, coupling box assemblies, and spin molds from the business and sold them as scrap without the company's permission.
Company officials say the replacement value for all of the material stolen totaled over $425,058. 50.
Police learned that, between mid-December of 2013 and February 2014, Knight had sold the stolen items for scrap at a local scrap yard for approximately $3,500.
Knight had been employed with Cast Nylons Limited for approximately three years.
Police said Cast Nylons management became suspicious when they stopped seeing sales receipts for their scrap metal.
As a company driver, Knight was responsible for moving the scrap metal to the scrap yard and turning in the sales receipts back to the company.