SHAWANO, WI (WTAQ) – After a Shawano County man allegedly took money from business investors and used it for personal expenses, he has plead guilty to three counts of embezzlement.
37-year-old Andrew Reyment of Cecil is accused of embezzling approximately $350,000 from investors in his company.
Reyment allegedly posted on multiple social media sites that he was seeking investors for his fishing lure company, Screamline Lures, according to the criminal complaint.
Several interested individuals responded to Reyment after he did this.
Prosecutors say Reyment converted the investor funds illegally and without consent for his own personal use.
The victim-investors were located in Wisconsin, Illinois, and Italy, according to investigators.
He faces up to 30 years in prison and sentencing is set for June 21.
