Forsyth County Sheriff's Deputy Robin Regan said Monday Steven E. Daniel, 50, of Cumming, stole the money from Nanoventions over a five-year time period. He said the thefts first came to light six months ago.
"The investigator said it was first brought to his attention that a smaller theft had possibly taken place - about $160,000," said Regan.
The President and CEO of the laser optics company made that report to law enforcement and assisted with the investigation by making available to investigators five years worth of business and financial records. Daniel apparently forged checks, allowing him to steal from the company and its 130 shareholders, according to investigators.
Regan said Daniel was arrested in Cumming on February 14.
"The company where he worked is actually in Roswell," said Regan. "The CFO did live in Forsyth County and a lot of the theft and a lot of the transactions occurred in Forsyth County."
Regan said the investigation continues to determine if there were other individuals involved or if other money is missing; the total amount of the theft was $1.95 million.
Daniel was charged with three counts each of felony theft and felony forgery as well as two counts of financial identity fraud. He was booked into the Forsyth County Jail on a $2.2 million bond.
Steven E. Daniel
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