St. Charles food exec charged with fraud

A former St. Charles food-and-beverage executive was hit with several charges of fraud in a federal complaint filed today in U.S. District Court in Chicago.

Duane Martin, 43, of Chicago, was accused of using his position as chief executive officer at the now-defunct Universal Food & Beverage Co. in St. Charles from 2004 to 2006 to enrich himself and pay off creditors for his struggling grocery stores in downstate Morris and Plano.

According to the complaint, Martin used Universal company accounts to pay store bills and paid off store creditors in company stock.

Martin and stock promoter Gary Trump were named as defendants in a federal civil suit filed by the Securities and Exchange Commission last August.