Former Collection Agency Exec Pleads Guilty to Defrauding Employer

A man in South Dakota Wednesday pleaded guilty to one count of mail fraud for stealing more than $100,000 from his former employer, a collection agency, over the course of two years.

Steven Isaacson fessed up to the charges levied against him in a federal courthouse in Sioux Falls, S.D., according to local paper the Argus Leader.  The U.S. Attorney’s office in South Dakota said that Isaacson had used company checks to pay his personal credit card bills.

Isaacson was the Chief Financial Officer and Chief Operating Officer of AAA Collection Co. from 2006 to 2011.

As a part of the plea, he will pay a total of $106,609.03 in restitution to his former company. Under the agreement, Isaacson will make an upfront payment of $25,000 and $900 per month thereafter until the entire amount is paid off.

A formal sentencing hearing is scheduled for September 23.