A former Cummins employee accused of defrauding the Columbus-based company has pleaded guilty to one count of wire fraud.
“The Indiana Busines Journal” is reporting that 54-year-old David Hudson, of Columbus, Ohio, pleaded guilty this week in U.S. District Court in the Eastern District of Michigan. According to the report, Hudson used to work for Cummins in New Hudson, Michigan. According to the plea agreement, the fraud took place between 2008 and 2017.
As part of his job, Hudson had the authority to transfer money to profit-sharing partners Cummins, K&S, Equibridge and Bridgeway. He also had the ability to write checks from these entities.
Prosecutors say Hudson used false pretenses to direct a subordinate to transfer company funds into an account that he would then write checks to himself from.
The IBJ says that as part of the plea agreement, Hudson was ordered to pay a total of $5.33 million in restitution to four companies, including $3.46 million to Cummins.
Hudson faces up to 63 months in prison. He is free on bond until his sentencing on April 15.
For more on this story, visit ibj.com.