Jonesboro Accounting Manager Enters Plea

SEPTEMBER 15, 2004 - Posted at 2:29 p.m. CDT

LITTLE ROCK, AR - A former accounting manager accused of stealing more than a half-million dollars from a Jonesboro company has drawn a sentence of 27 months in prison for a guilty plea to one count of mail fraud.

45-year-old Michael Axtell, was initially brought up on 53 felony counts of mail fraud.  He was accused of hiding an embezzling scheme at Mid-America Manufacturing Corporation.  The alleged embezzlement involved $573,000.

Axtell pleaded guilty in March to the mail fraud count.  He was accused of writing checks to himself between July 1998 through November 2002.  He was charged with mail fraud for allegedly destroying canceled checks and bank statements that the company received in the mail.

U.S. District Judge James Moody accepted a plea agreement Axtell worked out with prosecutors to drop all but one of the charges.

The company makes machinery used to manufacture concrete pipe.

(Copyright 2004 by The Associated Press.  All Rights Reserved.)