- Former Missouri State University bookstore director Mark Brixey, who resigned in August, plead guilty before a federal court Tuesday to charges of wire fraud, money laundering and filing a false income tax return in connection with the embezzlement of over $1.16 million from the university over a decade.
- In a press conference, MSU President Clif Smart said the university was likely to recover nearly the full amount through its $1 million employee theft insurance policy, the $144,000 that federal investigators recovered and Brixey's restitution, which is part of his plea deal.
- Brixey's scheme involved embezzling funds through the bookstore's student textbook buyback program, as Brixey was able to pocket commissions paid to the university by Follett Educational Services because the transactions were never on the book.
From the article:
... Brixey began this scheme in 2003 with the theft of nearly $29,000 and escalated, with more than $190,000 stolen during each of the last two full years of the scheme in 2010 and 2011, prosecutors said.
He embezzled another $20,580 in 2012 before he resigned in August. ...