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CPA admits stealing from Native corporation

Posted: Wednesday, September 30, 2009

SEATTLE - A 45-year-old Seattle-area accountant has admitted that he embezzled $288,000 from a subsidiary of an Alaska Native corporation.

Clyde Thomas Beard, formerly of Anchorage, pleaded guilty Tuesday to mail fraud. He faces up to 20 years in prison when he is sentenced Jan. 8 in U.S. District Court in Seattle.

Beard was chief financial officer of NANA Services LLC, a subsidiary of NANA Development Corp., which in turn is part of NANA Regional Corp. of Kotzebue.

In a plea agreement he admits that he submitted phony expense reimbursement requests for items that were never purchased between April 2005 and February 2008, when he was fired. He also admits charging personal items, including a diamond ring, 42-inch high-definition television and cable TV service, on a corporate credit card.



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