Jerome Hennessy, age 56, was once the manager of the Ashby Cooperative Farmer’s Elevator in Minnesota.
An elevator employee from 1988 to 2002, he became the manager in 2003.
From that point on, law enforcement officials say he began using his position to steal millions of dollars from the co-op.
He wrote hundreds of checks to himself and other people for things like renovations to his home and a cabin, buying real estate, furniture, jewelry, credit card balances, hunting trips, taxidermy services, and more.
Hennessy was sentenced to 96 months in jail for mail fraud and income tax evasion by a U.S. District Judge in Fergus Falls, Minnesota.
At the sentencing, U.S. Attorney Erica MacDonald said:
“As a manager, Mr. Hennessy held a position of trust over the Co-op’s members and their financial interests. Unfortunately, he chose to violate that trust by committing egregious fraud, stealing from his own friends, colleagues, and neighbors.”
In order to cover the co-op’s legitimate expenses, as well as the millions of dollars he stole, Hennessy took out a line of credit at $7 million.
In total, Hennessy stole nearly $5.34 million.