Chesterton Tribune

 

 

Valpo attorney charged with theft of $1.6M in business funds

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A Valparaiso attorney has been charged with four counts of theft after the Porter County Sheriff’s Police said that he stole more than $1.5 million from four businesses in which he’d been granted power of attorney. Clark W. Holesinger, 52, of 505 Fordwick Lane, was booked into the Porter County Jail on Thursday. Bond has been set at $15,000 cash or surety.

According to the probable cause affidavit filed by Det. Jeff Biggs, Holesinger was employed as the business attorney of North Star Stone Inc., for which he had power of attorney and whose tax liability he was entrusted with calculating and paying.

“After calculating the amount of tax liability, Holesinger would notify the business of the amount of the tax liability and North Star Stone Inc. would forward a check to him for the amount of money Holesinger requested,” Biggs stated in his affidavit.

On Dec. 5, 2013, however, the owner of North Star Stone Inc. was notified by his bank of a levy placed on its account in the amount of $232,709.52, “due to a tax warrant for delinquent taxes,” Biggs stated.

A forensic accountant subsequently determined that, between February 2011 and December 2013, Holesinger had not been paying taxes for North Star Stone Inc. but was instead cashing the checks himself, Biggs stated. “The total amount of money Holesinger exerted unauthorized control over for State of Indiana tax liability is $817,962.79.”

Holesinger was also business attorney for RBF Island Investment LLC, ITF LLC, and Meridor LLC, whose financial affairs he was similarly entrusted with, Biggs stated. From each of these it was determined that Holesinger had exerted unauthorized control of amounts totaling $233,410,73, $215,406.62, and $371,736.00 respectively, Biggs stated. The total amount of money which Holesinger was determined to have stolen from all four companies is $1,638,516.10, Biggs stated.

Theft is a Class C felony punishable by a term of two to eight years.

 

 

Posted 2/14/2014