Century-old company embezzled into oblivion

EUGENE, Ore. -- A former bookkeeper at a Eugene printing company has been accused to embezzling $1.5 million.

The century-old IP/Koke company closed nearly a year ago, and its CEO says he didn't realize it was being drained from within.

But for the thefts, Jason Pierce told the Eugene Register-Guard, the company would have been in the black every year.

Authorities say 48-year-old Victoria Marie Monfore of Springfield is accused of forging company checks and making them payable to herself. She was arrested Wednesday.

Pierce says he thought accounting problems at the company were a matter of poor performance.

He says he had fired one executive and eventually Monfore before her successor convinced him that theft was the problem. That touched off an investigation.