Wife Of Former Collin Street Bakery Exec. Pleads Guilty To $16M Fraud
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DALLAS (1080 KRLD) - The wife of a Corsicana bakery executive has pleaded guilty to a money laundering charge in an eye-popping $16 million embezzlement scheme.
64-year old Kay Jenkins could get three years in prison when she is sentenced in September.
Her husband, Sandy Jenkins pleaded guilty to mail fraud, conspiracy to commit money laundering and making a false statement to a financial institution in 2014. He is looking at a possible 60-year prison term and repaying all the money he is accused of stealing.
Sandy Jenkins was the comptroller of the famed Texas fruitcake company- the Collin Street Bakery, but served himself a lavish lifestyle on his less then $50,000 annual salary that included racking up $11,120,449 in charges with American Express, $1,941,596 on a Citibank credit card and approximately $1,196,773 on a Neiman Marcus credit card - all of which were paid for using embezzled funds from the Bakery.
Kay Jenkins knew her husband couldn't afford their lavish lifestyle, but turned a blind-eye toward the oversized paychecks.
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