Texas man sentenced for $1 million embezzlement
KANSAS CITY - A Texas man who embezzled nearly $1 million from a Missouri company has been sentenced to three years in federal prison without parole.
Forty-nine-year-old Daniel Reif, of Weatherford, Texas, also was ordered Wednesday to pay $1.3 million in restitution and forfeit another $105,000.
Federal prosecutors say Reif pleaded guilty in January to mail fraud and filing a false income tax return. He admitted defrauding Herzog Contracting Corp. of St. Joseph, Missouri, while he worked in the company's Irving, Texas, office.
He also founded his own company, Railway Signal Solutions. Prosecutors say he ordered materials and services through his company and sold them to Herzog at inflated prices. Invoices made it appear that his company was directly providing the goods and services to Herzog.
Reif also admitted filing false tax returns.