Corsicana Bakery Executive Admits to $16M Fraud

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    NEWSLETTERS

    TK
    Corsicana Daily Sun/Ron Farmer
    Sandy Jenkins, center, talks with two FBI agents Monday on his neighbor's porch as agents conduct another search of his home next door on West Third Avenue. Jenkins, the former controller of Collin Street Bakery, was arrested by agents Monday and remains in federal custody in connection with nearly $17 million in missing funds from the bakery. (Corsicana Daily Sun/Ron Farmer)

    A former comptroller of Collin Street Bakery has admitted to embezzling $16 million from the renowned fruitcake chain.

    Federal prosecutors in Dallas say Sandy Jenkins pleaded guilty Tuesday to mail fraud, conspiracy to commit money laundering and making a false statement to a financial institution.

    The 65-year-old Jenkins was charged with stealing from the bakery chain for nine years and using the money to finance a lavish lifestyle, with a vacation home, jewelry and more than 200 private airplane flights.

    His wife, Kay, is also under federal indictment.

    Sandy Jenkins is scheduled for sentencing in September. He faces decades in federal prison.