St. Cloud man indicted for stealing more than $350,000 from Minnesota brewery

- A St. Cloud man is indicted for stealing more than $350,000 from a Minnesota brewery where he was an employee and for fraudulently obtaining an additional $330,000 as part of an unrelated Ponzi scheme. 

35-year-old Adam Martin is charged with six counts of wire fraud, three counts of money laundering and one count of aggravated identity theft.

According to the superseding indictment, an investigation showed in December of 2011 Martin allegedly transferred more than $240,000 dollars from the company's business checking account to a business brokerage account that he controlled. Martin stopped working for the Minnesota-based brewery in November of 2014.

Martin used his sister-in-law's name and identification to open the business account called "DCI Change" and listed her as the director.

According to court documents, Martin used the funds for personal use, such as a $106,000 down payment on a new home. Martin also allegedly used his employer's credit card for $78,000 of personal expenses, including an all-inclusive vacation. Investigators also believe he stole $30,000 in cash from the brewery.

FBI investigation also showed Martin was involved in a Ponzi scheme in which he defrauded friends and family out of more than $330,000. He told them he would make investments with their money, but instead used it for personal expenses and to pay off other investors.

A trial is set for August 29. Assistant U.S. Attorney John Kokkinen will prosecute the case.

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