A 54-year-old Baton Rouge man has pleaded guilty to stealing $1.4 million from his former employer, Axiall Corp., most of it via a wire fraud scheme, acting U.S. Attorney Corey Amundson said Wednesday.
Wade Barbay, of Baton Rouge, admitted to the scheme, which involved inflating business expenses submitted by other employees. When corporate headquarters in Houston covered the expenses, the employees would be reimbursed the actual business expenses and Barbay would keep the amount he added, Amundson said in a release.
Barbay, who worked as director of shared services at the corporation's Plaquemine office, operated the scheme from January 2011 to May 2016 and channeled $1.1 million to his bank account, the release says. Barbay also negotiated refund checks on the company's behalf and deposited the corporate refund checks into his personal account.
Amundson said the refund check scheme totaled $280,430.
Barbay worked at the Plaquemine facility for 24 years.