Bail has been set at $50,000 recognizance bond for a 37-year-old Sheboygan man facing multiple charges for allegedly stealing from his former Manitowoc based employer. Derrick M. Cherney is charged with ten counts of theft by virtue of employment.
Court records show that Cherney is accused of stealing over 106,000 pounds of aluminum coil from Manitowoc Tool and Manufacturing. Police were notified last month by the owner of the business who had received a recent tip that an employee was involved in taking MTM raw materials. Cherney’s supervisor noticed significant discrepancies in their inventory at another south side location. Several days later five complete coils taken from MTM without their permission were located at a Green Bay metals company.
The Sheboygan man was taken into custody on Tuesday. A spokesman for MTM says the total replacement value loss was in excess of $187,000 with the overall loss to the company being almost $192,000.
A condition of bail is that Cherney have “no contact” with MTM and his initial hearing is scheduled for September 16th at 1:30.
