Two former executives of Chinese-owned FGI golf company arrested for embezzlement
Former Founders Group International chief executive officer Rick Taylor and chief financial officer Tommy Smothers were arrested Thursday for embezzlement.
They are accused of stealing more than $245,000 from FGI through checks fraudulently written for their benefit from early January through early March 2017. They were fired from the company in June 2017.
FGI is owned by Chinese investors, and owns and operates 22 Grand Strand golf courses as well as numerous other properties, including 29.1 acres of oceanfront land in Myrtle Beach that is earmarked to include a luxury high-rise hotel.
According to arrest warrants and a Myrtle Beach Police report, Taylor and Smothers are accused of being entrusted with signing checks linked to company accounts and issuing checks totaling more than $245,000 to themselves or for their benefit without authorization.
Read more: https://www.myrtlebeachonline.com/sports/golf/article218753210.html