A man from Wichita Falls, Texas, has been charged with stealing more than $300,000 from the company where he worked, according to court documents released this week.
The suspect, Eric Michael Skipper, was arrested on Wednesday and is now facing a first-degree felony theft charge linked to a case dating back to August 1, 2018.
Arrest Details and Legal Status
As of Thursday, Skipper was released from the Wichita County Jail after posting a $250,000 bond, according to online jail records.
Under Texas law, theft of $300,000 or more is classified as a first-degree felony, which carries a possible punishment of five years to life in prison if convicted.
It’s important to note that Skipper is presumed innocent unless proven guilty in a court of law.
Allegations Against Eric Skipper
Court records show that Skipper worked at Lipscomb Power Sports, a business located on Jacksboro Highway that sells motorcycles, trailers, and all-terrain vehicles (ATVs).
An internal audit revealed a pattern of embezzlement and fraud, according to an affidavit filed in the case. Skipper is accused of manipulating sales records, creating fake returns, and taking advantage of software loopholes to steal money without being detected.
The total amount allegedly taken? About $331,983.
In a police interview conducted in April, Skipper reportedly admitted to taking cash from at least one sales transaction. According to the affidavit, he told officers he used the stolen money to “support his family and lifestyle.”
How the Theft Was Allegedly Carried Out
Investigators believe Skipper was able to carry out the thefts because he was the only employee with access to manipulate the transaction records. This access allowed him to bypass the company’s regular security checks and accounting systems.
The fraudulent activity reportedly went unnoticed for a long time due to the clever methods used to hide the missing funds, such as fraudulent refunds and altered bookkeeping entries.