The former financial director of a Ludington Michigan based company that controls the finances for the S.S. Badger has been charged in federal court with defrauding the ferry and financial institutions.
Paul Patrick Piper reportedly stole around $550,000 by writing checks to himself and two of his affiliated businesses, and also by overriding normal accounting systems.
Piper reportedly hid the thefts by making false entries on the company’s books, including recording them with insurance expense codes.
Reports also indicate that Piper served as the financial controller for Lake Michigan Carferry for a number of years.
If found guilty, Piper could spend as many as 33 years in prison for bank fraud and filing false tax returns. The second charge was added because he never claimed the money he stole on his tax returns.
