Guilty plea in plan to steal $16.8 million

September 23, 1998|By Michael James | Michael James,SUN STAFF

A computer analyst pleaded guilty in federal court yesterday to devising a plan to steal $16.8 million from his employer and vanish with the fortune, intending to live the rest of his life under a new identity.

Scott Michael Posnanski, 30, of Lake-in-the-Hills, Ill., hatched some of the ideas for the scheme at a downtown Baltimore pub where he and an accomplice met to iron out details, according to court papers. They planned to wire the stolen millions to a bank in Eastern Europe.

Posnanski pleaded guilty to bank fraud in U.S. District Court in Baltimore. The charge was filed in Maryland because Posnanski and the accomplice, Jonathan Andrew May, 33, who has also pleaded guilty, were about to wire the stolen money to Estonia from a NationsBank branch in Baltimore.

The men were employees of Insurance Auto Auctions of Schaumburg, Ill., where they discovered a way to write themselves checks on the company's accounts, court papers said.

Pub Date: 9/23/98

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