Lumber Company Executive Admits to Embezzlement

Federal authorities say a former executive for a West Virginia lumber company has admitted to wire fraud for embezzling more than $800,000. Prosecutors say 42-year-old James Matthew Miller issued payments to a sham vendor that never hauled or delivered logs and falsely inflated inventories to conceal it. The vendor cashed or deposited the checks in his bank account, then gave Miller with the money, minus a small amount. Miller pleaded guilty and could face up to 20 years in federal prison at sentencing March 15.