Business

St. Louis man pleads guilty to fraud

Posted July 31, 2013 6:42 am

A 52-year-old St. Louis man and former vice president of a company based in the Chicago area has pleaded guilty to a $3.9 million fraud scheme.

Steven M. Brazile pleaded guilty Tuesday at federal court in Chicago to an invoicing scheme in which he obtained more than 100 company checks totaling millions of dollars.

The U.S. Attorney’s Office says Brazile was vice president in the unnamed company’s St. Louis office, where he managed IT functions.

He pleaded guilty to one count of interstate transportation of fraudulently obtained securities. He was released pending sentencing, which is set for Nov. 13.

He faces a maximum prison sentence of 10 years, though his plea deal calls for less time. In the deal, Brazile also agrees to pay $3.9 million in restitution and forfeiture.

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