Former Star Press newspaper employee accused of stealing more than $185K from company
MUNCIE, Ind.– A former employee with The Star Press, a Gannett-owned newspaper organization based in Muncie, was arrested on a felony charge of theft.
Steve Lam, 45, turned himself in to police Friday in connection with the case.
Muncie Police Department officers began their investigation in March, after Gannett employees reported they believed Lam, who worked in the newspaper’s finance department, had potentially stolen up to $100,000 from the company.
According to court documents, Lam was tasked with depositing checks and cash that came from newspaper subscriptions and advertising revenue into a Chase Gannett bank account on a weekly basis.
An audit conducted by Gannett found bank deposit slips Lam used did not match the copies of the original deposit slips from the Star Press. According to the report, several thousand dollars were not being deposited each time.
According to police, a total of $185,603.71 in cash was taken by Lam from the weekly deposits from September 2015 to February 2017.
After turning himself in to police custody, Lam told police he was liquidating his retirement account to repay Gannett.