Texas bakery executive admits to $16M fraud

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Associated Press

Posted on May 21, 2014 at 7:32 PM

DALLAS (AP) — A former comptroller of Collin Street Bakery has admitted to embezzling $16 million from the renowned fruitcake chain.

Federal prosecutors in Dallas say Sandy Jenkins pleaded guilty Tuesday to mail fraud, conspiracy to commit money laundering and making a false statement to a financial institution.

The 65-year-old Jenkins was charged with stealing from the bakery chain for nine years and using the money to finance a lavish lifestyle, with a vacation home, jewelry and more than 200 private airplane flights.

His wife, Kay, is also under federal indictment.

Sandy Jenkins is scheduled for sentencing in September. He faces decades in federal prison.

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