PORTLAND, Maine (NEWS CENTER) - The company that owns the Portland Press Herald says a former CEO stole more than $500,000 from the company.
The current CEO of MaineToday Media, Lisa DeSisto, says in a letter that the company's insurance company has reimbursed the company for $537,988.68.
Travelers Casualty & Surety Company apparently found enough evidence that former CEO Richard Connor took that sum for unauthorized personal use during his tenure, from June 2009 to October 2011.
The letter, which is included in full in this article, has a rundown of some of the charges. They include salary increases, bonuses, an SUV for Connor's son and a pair of rental properties in Camden.
The letter also states that a company that Connor formerly ran is suing him for similar charges.
DeSisto says in the letter that the recovered money will be reinvested in MaineToday Media.