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Thom W. Williams faces federal wire-fraud charges for allegedly diverting checks from Memphis-based Verso Paper Corp. to a joint checking account belonging to him and his wife.
Chancery Court records show that Williams, 41, was sued in 2007 by his former employer, Barloworld Truck Center, also based in Memphis, for allegedly writing company checks to himself as a manager in the central processing department between January 2005 and March 2007.
The suit, which remains open, says Williams used the unauthorized checks to pay personal debts and that he embezzled $772,189.46.
In responding to inquiries in the suit, Williams and his wife, Danielle, who is also a defendant, said they are targets of a federal criminal investigation in the matter and asserted their Fifth Amendment rights against self-incrimination.
No criminal charges have been filed.
Williams was arrested on a warrant Friday accusing him of wire fraud against Verso for a similar scheme in which he diverted company checks to himself and his wife totaling $8.7 million since March.
His wife, who is not named as a defendant, posted $1,000 to free him from custody Tuesday after U.S. Magistrate Judge Tu Pham set a $10,000 bond. A bond typically requires a 10 percent deposit.
Williams, formerly of Germantown and now a resident of Hernando, has a preliminary hearing scheduled for Oct. 23.
Asst. U.S. Atty. Dan Newsom said the charges carry up to 20 years in prison and a $250,000 fine.
A spokeswoman for Verso said the company is working with federal authorities on the matter, but declined further comment.
Verso is a paper company in southeast Memphis that produces coated paper for magazines, catalogs, annual reports and direct-mail advertising.
Barloworld Truck Center Inc. in Memphis is one of five divisions of Barloworld Industrial Distribution headquartered in Charlotte, N.C.
To see more of The Commercial Appeal, or to subscribe to the newspaper, go to http://www.commercialappeal.com. Copyright (c) 2009, The Commercial Appeal, Memphis, Tenn. Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
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