Man Accused Of Stealing $350K From Brewery, $330K In Ponzi Scheme

MINNEAPOLIS (WCCO) -- A St. Paul man is charged with stealing more than $350,000 from a Minnesota brewery, and stealing almost as much from others in an alleged Ponzi scheme.

The United States Attorney's Office says 35-year-old Adam Jonathan Martin is charged with six counts of wire fraud, three counts of money laundering and one count of aggravated identity theft.

Martin worked as a controller at an undisclosed brewery from 2011 until 2014.

FBI investigators found that Martin transferred $240,000 from the brewery to a business brokerage account he set up, using his sister-in-law's name as the director.

Martin allegedly used the stolen funds to make a $106,000 down payment on a home. He is also accused of using the company's credit card to pay for $78,000 worth of personal expenses, including an all-inclusive resort vacation.

Investigators say he also stole about $30,000 in cash from his former employer.

Martin is also accused of bilking family, friends and acquaintances out of about $330,000 in an alleged Ponzi scheme, using the funds to pay off other investors and for his own expenses.

His trial is set to begin on August 29.

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