Man charged with $1.4 million MoneyGram embezzlement

AP News
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Posted: Nov 29, 2015 4:09 PM

SAN JUAN, Puerto Rico (AP) — Authorities in the U.S. Virgin Islands say they have arrested a man on charges related to the embezzlement of $1.4 million from a MoneyGram operation.

Police say 50-year-old Alvery Smith of St. Thomas was charged with embezzlement and forgery after the former MoneyGram agent admitted he failed to deposit $1.4 million in a company account and used the funds for personal benefit.

He was detained Wednesday at a mall but police did not report the arrest until Sunday. He will remain in jail until a preliminary hearing after failing to post $95,000 bail.

Smith is identified in press reports as an owner of the Mail Plus business services chain that won a small business award in 2013. Police first announced a MoneyGram investigation in August.