Sedalia businessman accused of embezzling nearly $86,000

Saturday, June 7, 2008 | 5:26 p.m. CDT; updated 9:17 a.m. CDT, Monday, July 21, 2008

KANSAS CITY — A Sedalia businessman faces federal charges related to embezzling nearly $86,000 from the company’s benefit plan, according to the U.S. attorney.

Raymond A. Potts II, 51, was charged in an 11-count indictment returned by a federal grand jury. He owned Potts Contracting Group, Inc., a Sedalia industrial and commercial construction firm that specializes in government contracting.

Potts and his firm sponsored an employee pension benefit plan with Potts serving as the fiduciary. From Sept. 30, 2003, until May 30, 2007, Potts allegedly failed to forward a total of $85,936 in prevailing wage fringe benefits to the plan. Instead, he allegedly kept the money for his own use.

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