TYLER, Texas – A 56-year-old Athens, Texas man has pleaded guilty to federal violations in the Eastern District of Texas, announced U.S. Attorney John M. Bales today.
Mark Eugene Thomas pleaded guilty to mail fraud on Mar. 7, 2012 before U.S. Magistrate Judge Judith K. Guthrie.
According to information presented in court, from 1998 to 2009, Thomas was employed by Argon Medical Devices, Inc. (AMD), an Athens-based manufacturer and supplier of specialty medical products utilized in the areas of cardiology, radiology, and critical care.
From 2004 to 2008, Thomas, the Accounting Manager for AMD, provided fraudulent data to AMD's parent corporation and external auditor to make AMD appear more profitable in order to secure additional capital investments for AMD and the payment of performance incentives for AMD employees, including Thomas.
This fraudulent activity resulted in a financial loss of between $1 million and $2.5 million.
Thomas faces up to 20 years in federal prison at sentencing. A sentencing date has not been set.