Accountant Admits To Theft 18 Jan 13

A southern Minnesota accountant has admitted to stealing nearly half-a-million dollars by writing more than a hundred phony checks to himself. 39-year-old Ronald Schaeffer of Faribault reportedly admitted in federal court that he wrote 127 fake checks totaling over $432,000 to himself over a four-year span while working for Environmental Tillage Systems. Prosecutors say Schaeffer used the money to build himself a lake home in Elysian and to pay off car loans. He faces the possibility of spending up to 30 years in federal prison.