A former executive with a Greenville-based company has pleaded guilty to fraudulently withdrawing nearly $1 million from a bank so he could make payroll.
Jason Watson, 53 years old, pleaded guilty Monday in federal court to fraud. Prosecutors say Watson’s illegal withdrawal led Condustrial, Inc. into chapter 11 bankruptcy. Condustrial Inc. provides skilled workers, like electricians, for temporary jobs. Watson stated in court that he didn’t keep any of the $771,000 and that he had hoped that the economy would improve in time for the withdrawal to go undetected. He said other executives with the company didn’t know of his fraudulent act to make payroll.
Condustrial, Inc operates in South and North Carolina, Tennessee, Ohio, Maryland and the District of Columbia.