LAS VEGAS (KLAS) — Documents obtained reveal that a former chief operating officer in the real estate industry has been accused of embezzling over $500,000 from his employer.
According to records, Todd Butwinick is facing a charge of theft of $100,000 or more. He was arrested on Friday, November 24, after allegedly stealing a total of $586,000 over a span of more than ten years.
Butwinick held the position of COO at Century 21 Gavish Real Estate, a prominent Las Vegas-based company with multiple offices in southern Nevada. His responsibilities included managing payroll, commissions, and various bank accounts, as stated in the documents.
The owner of the company informed the police that Butwinick supposedly compensated “himself for commission and the additional [full salary],” amounting to over $360,000, as per the documents. Police further stated that Butwinick failed to deduct medical expenses, resulting in a financial loss for the company.
Detectives also alleged Butwinick used a company credit card for personal expenses totaling nearly $50,000, documents said.
Butwinick also allegedly spent company money on work at a Utah cabin, personal life insurance and a collections agency, police said.
Butwinick was set free from custody under the condition of checking in via telephone. A preliminary hearing has been arranged for March.
No response has been received yet from Butwinick’s lawyer regarding the comment request.
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