Prosecutors: Barrington retailer of cavalry gear stole more than $500,000 from partners
One of the owners of CavHooah, an internet-based retailer that sells U.S. cavalry-related merchandise, is charged with stealing more than $500,000 from his partners.
A judge set bail at $20,000 Tuesday for Barrington resident Howard K. Hansen, who is charged with theft.
Cook County prosecutors say Hansen, 57, began embezzling money from his three partners in 2016 shortly after they purchased the company, which sells hats, clothing, lapel pins and badges, spurs, swords and other accessories, and which has an East Dundee address listed on its website.
According to prosecutors, Hansen -- who ran the business -- used PayPal to transfer money to himself and used the company debit card to withdraw cash, which he used for personal expenses.
Additionally, they say Hansen wrote checks from the CavHooah account to NuVision Builders, a construction company police say he owned. He also created "fake monthly reports to the victims making it seem as if the business was running in a profitable and legitimate fashion," according to the Cook County state's attorney's office.
In May 2019, one of the co-owners discovered the company bank account held less than $1,000. He and his daughter, one of the co-owners, subsequently checked bank records, which prosecutors say revealed the defendant had stolen $562,505.09.
The co-owners confronted Hansen, who prosecutors say "confessed via text and written letters" and promised restitution saying, "I will pay back every cent, as God is my witness."