Former Timber Exec Pleads Guilty to Fraud

The former vice president of a Rocky Mountain timber company faces up to five years in prison for stealing nearly $1.9 million from the company

This photo released Thursday, March 17, 2005, by the California Department of Corrections shows Scott Peterson during the intake process at San Quentin Prison in San Quentin, Calif. Judge Alfred A. Delucchi on Wednesday accepted the jury's recommendation that Peterson be sentenced to death, calling the killing of Laci Peterson and her fetus "cruel, uncaring, heartless and callous." (AP Photo/California Department of Correction)

June 8, 2013

ROANOKE, Va. (AP) - The former vice president of a Rocky Mountain timber company faces up to five years in prison for stealing nearly $1.9 million from the company's lender and an undetermined amount from a subsequent employer.

The Roanoke Times reports that 37-year-old Matthew Ayers Lester of Roanoke County pleaded guilty Friday to bank fraud and wire fraud. He will be sentenced in September in federal court in Roanoke.

Lester worked for International Log & Timber LLC from 2005 to 2009. Prosecutors say he submitted false reports about the company's assets to obtain money from its commercial lender, SunTrust Bank.

He later went to work for another company in Christiansburg, where he borrowed $15,000 from a customer and repaid part of the loan by giving discounts he was not authorized to offer.


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