A Rocky River businessman is facing federal charges after allegedly stealing nearly $1 million from his employees.
Authorities claim C. David Snyder, President and CEO of Attevo Inc. in Cleveland, of withholding roughly $860,000 in payroll taxes from employees during two separate years and keeping it for himself, instead of paying it to the IRS. Snyder is also of embezzling more than $130,000 from an employee retirement fund between 2010 and 2012.
These activities, officials claim, allowed Snyder to live a lavish lifestyle, including a vacation home in Chataqua County, New York and deposits into his wife's bank account.
“This defendant embezzled money from an employee retirement account and did not pay to the IRS money he withheld from his employees’ paychecks, all while living a lavish lifestyle,” U.S. Attorney Justin E. Herdman said in a statement.
Snyder will be tried by the U.S. Attorney's Office in its Northern Ohio district.