INDIANAPOLIS, Aug. 19 (UPI) -- U.S. business supply company SaveItNow said it would recover from the news a former chief financial officer had been charged with embezzlement.
Federal officials have charged former CFO David Sullivan with fraudulently stealing $422,539 from the company, which is the brand name for the Dodson Group, the Indianapolis Star reported Wednesday.
In a statement, President of Dodson Group Jim Dodson said "we will continue to provide value and service to our customers, just as we have for 23 years."
"Some of our largest suppliers and our bankers are helping us get through this," Dodson said, calling the reaction of the business community "a tribute to the strong business relationships we've forged."
Dodson also said the owners have used personal funds to make up the loss.
Sullivan could receive a sentence of 20 years and a fine of $250,000 fine, the newspaper said.
