Updated 3 months ago
Barbourville Police charged a 48-year-old Pineville man in connection to theft and fraud investigations for Bingham Tire in Barbourville.
Bingham Tire had been showing losses in inventory in recent months, causing the company to implement new policies to track deliveries and sales.
Through the new policies book keepers were able to show that Mike Jones, who was employed as a salesman at Bingham Tire had been delivering merchandise to businesses that were not paying for the merchandise or were paying substantially discounted prices.
Accounts payable personnel contacted the Barbourville Police August 6 to report thefts committed by an ex-employee.
Accounts personnel worked with police to show how Jones had delivered merchandise to businesses that were not billed for the deliveries while placing the cost on accounts of other unsuspecting businesses.
When interviewed, Jones admitted to his actions but was unable to specify what accounts he had used, what the total loss was for Bingham Tire or where any potential cash that exchanged hands had gone.
Jones was arrested on a warrant and lodged in the Knox County Jail.
The investigation is expected to continue for some time while exact losses are determined and police attempt to locate and question other individuals and businesses suspected of being involved.
Jones was arrested on a warrant charged with seven counts of theft by unlawful taking over $10,000; 42 counts of theft by unlawful taking $10,000 (Over $500); 18 counts of theft by unlawful taking under $500; 67 counts of falsifying business records; and receiving a commercial bribe, theft by failure to make required disposition of property.