Former Huntsville CEO accused of embezzling $10 million files for bankruptcy
A former Huntsville CEO has filed for bankruptcy and listed his creditors as companies that claim he embezzled more than $10 million from them.
Steve Shickles and his wife Ronda filed for Chapter 11 bankruptcy in federal court and listed $10 million in debt, court records show. The bankruptcy filing came just days after Huntsville tech firm Simple Helix and its sister companies filed a lawsuit accusing him of embezzling about $10.2 million.
Steve Shickles, 40, resigned as CEO of Simple Helix after the company confronted him about a PayPal account he had been secretly operating for years, according to court records.
The company’s lawsuit alleges Steve Shickles defrauded the company of more than $10.2 million by diverting company money into personal accounts, paying personal loans with company money or paying personal expenses with company funds. The lawsuit also names Shickles’ wife, Ronda, as a defendant. The document alleges the couple kept more than 20 high-end vehicles — allegedly bought with stolen funds — in warehouses around Huntsville.
Read more: https://www.al.com/news/2019/01/former-huntsville-ceo-accused-of-embezzling-10-million-files-for-bankruptcy.html