Guilty plea in Home Depot fraud
Atlanta A former employee of The Home Depot has admitted scheming to defraud the company out of about $1.5 million through kickbacks paid by suppliers.
Ronald Douglass Matheny II pleaded guilty Tuesday to conspiracy to commit mail and wire fraud and conspiracy to commit money laundering.
Federal prosecutors say the 42-year-old Matheny was responsible for overseeing the location of flooring products in all Home Depot retail stores from May 2002 through April 2005. He was accused of scheming with several unnamed co-conspirators to arrange for Home Depot to purchase products and services at less than the most advantageous terms.
Matheny could receive up to 30 years in prison and $500,000 in fines when sentenced in August.