ST. LOUIS BUSINESS JOURNAL — A former vice president of Synergy Concepts in St. Peters, Missouri, was sentenced Tuesday to six months in prison, 90 days of home confinement and three years of supervised release for stealing thousands of dollars from the company's retirement plan.
Steven Walters, 52, of St. Peters, pleaded guilty to one felony count of theft or embezzlement in September.
Walters embezzled assets of the company's employee pension plan and converted them for his personal use, which resulted in a loss of $72,817, according to the U.S. Attorney's Office for the Eastern District of Missouri. He was hired by the company in August 2001, and by 2014 was Synergy's vice president and secretary.
He was the co-trustee for Synergy's retirement plan that was funded by voluntary employee contributions, officials said. From May 2015 to August 2016, Walters failed to transfer withheld funds to the retirement plan and instead diverted them for personal use.
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