Holly Hill, FL – The former Chief Financial Officer (CFO) of R&R Industries Roofing & HVAC Services in Holly Hill has been charged with grand theft after an investigation uncovered he had used over $150,000 of company funds for personal expenses and to pay himself unauthorized bonuses.
On March 22, the CEO of R&R Industries, Guy Beasley, and the VP of Operations, Angelina Masini, reported to the Holly Hill Police Department that they believed 36-year-old Matthew James Littlemore stole $150,693 from the business during the two years he worked there. Littlemore was hired on October 17, 2016, and fired on February 26, 2018, for unsatisfactory work performance. His last day at work was March 2.
A few weeks later, Masini noticed several payroll discrepancies. She discovered Littlemore had been paying himself bonuses in two-week increments from November 2017 to March 2018 and had been giving staff members unauthorized bonuses in December 2017. Further investigation revealed Littlemore used company funds for unauthorized dental procedures, rent, raising his vehicle allowance, and covering 100% of his insurance. The arrest report indicates these crimes went unnoticed because Beasley entrusted Littlemore with all business finances and Littlemore convinced him to get rid of the company’s CPA and tax specialist.
When Littlemore was first hired, Beasley had originally agreed to fly Littlemore to Daytona from California and temporarily house him and his family in a condo. Littlemore eventually found permanent housing, which he was supposed to assume financial responsibility for, but instead used company funds to pay his rent beginning in November 2016.
Littlemore also received health insurance through R&R Industries. The insurance plan coverage required all employees to pay the remainder, however, Littlemore used company funds to pay 100% of his insurance from November 2017 to March 2018.
Investigators interviewed several R&R staff members. The consensus was that several employees knew and received bonuses from Littlemore, but assumed that Beasley knew about them. Many employees were suspicious of Littlemore due to his spending habits on the company’s dime, but he was never questioned because it was assumed that everything was approved by the CEO. Littlemore also allegedly belittled and reassigned one employee after she pointed out financial discrepancies.
Littlemore was booked into Volusia County Branch Jail on April 4. He is facing charges of grand theft over $100,000 and a $150,000 bond.
(Littlemore’s mugshot courtesy of Volusia County Corrections)
Photo courtesy of BortN66 and Shutterstock.com.
Copyright Southern Stone Communications 2018.