A former Mars Wrigley executive making $200k a year stole $28 million from the company and bought a multi-million dollar home

Quick Summary:

Paul Steed is accused in a federal indictment of stealing more than $28 million from Mars since about 2013 through various schemes.

Steed and his wife appeared to be living beyond their means, according to the judge’s order authorizing his pretrial detention.

In July 2012 he set up a company, Ibera LLC, and a year later he began submitting false invoices from it to Mars, according to the federal indictment.

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Article Details

Author / Journalist: The Associated Press, Dave Collins

Category: EconomyBusiness

Markets: United States

Topics: Crime Real Estate Candy Mars Inc CEO salaries and executive compensation

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-28 @ 10:06:00 (4 days ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 638 words

Reading Time: 4 minutes read

Sentences: 4 lines

Sentence Length: 160 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 27382549

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Official Website: fortune.com

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