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Man pleads guilty to stealing $1.8M from Maryland company

New judge appointed to Frederick County District Court
Posted at 1:43 PM, May 07, 2022
and last updated 2022-05-07 13:43:18-04

BALTIMORE (AP) — A man has pleaded guilty to the theft of more than $1.8 million from the Maryland company where he worked, according to a federal prosecutor.

Duane G. Larmore, 47, of Salisbury, Maryland, pleaded guilty on Friday to wire fraud conspiracy and to aggravated identity theft, said U.S. Attorney Erek Barron in a news release.

Larmore’s plea agreement said that from mid-September 2016 through about March 2020, Larmore conspired with others to steal more than $1.8 million from Shore Appliance Connection, where he was an employee in charge of maintaining the books and records.

Prosecutors said Larmore and his co-conspirators stole over $1 million from the business for their own purposes, including to make investments and to pay business expenses for the co-conspirator’s business without the knowledge and consent of the store owners.

To conceal the theft and get money, Larmore used the identities of the owners to enter into contracts in which businesses can obtain cash quickly by leveraging accounts receivable, the news release said.

As part of his plea agreement, Larmore will be required to pay restitution of more than $1.8 million.