A man who embezzled just over $1 million from a St. Louis County restaurant was sentenced to 21 months in prison by U.S. District Judge Rodney W. Sippel on June 30.
Matthew Braasch, 48, was also ordered to repay the stolen funds. Braasch pleaded guilty in April to one count of wire fraud after admitting he misused the company credit card while managing a restaurant in Grantwood Village, St. Louis County, Missouri. Instead of using the card only for food and state taxes as required, Braasch spent $81,965 at Target, $29,801 at Vineyard Vines clothing store, $39,634 at Amazon, and more than $10,000 on local hotel stays for an acquaintance.
According to court documents and statements made during sentencing by Assistant U.S. Attorney Derek Wiseman, Braasch began stealing during the pandemic when many restaurants were struggling financially or closing down. Wiseman said in court that Braasch acted as the gatekeeper of the restaurant’s funds and that no money would have been stolen without him, “allowing it to happen.” He further said that Braasch pretended to be the owner and took out loans “all to conceal his theft.”
Special Agent in Charge Chris Crocker of the FBI St. Louis Division said: “Matthew Braasch’s greed didn’t just betray the trust placed in him, it nearly cost an iconic restaurant its future. By stealing more than $1 million, he inflicted a financial blow that almost put the business under.” Crocker also commented on internal controls: “Strong financial controls are key to prevent the opportunity to embezzle. When the same employee is responsible for both authorizing and reconciling payments, it creates an opportunity to cook the books. Separating those responsibilities is one of the simplest and most effective ways to prevent fraud.”
The case was investigated by the FBI with assistance from Missouri Department of Revenue’s Criminal Tax Investigation Bureau and prosecuted by Assistant U.S. Attorney Derek Wiseman.
The U.S. Attorney’s Office for the Eastern District of Missouri investigates federal crimes including embezzlement schemes such as this case; it serves 49 counties across eastern Missouri using facilities like Thomas F. Eagleton U.S. Courthouse in St. Louis and Rush H. Limbaugh Sr. U.S Courthouse in Cape Girardeau; operates under United States Department of Justice; advances community well-being through crime prevention efforts; enforces civil rights laws; and works with various entities throughout its jurisdiction, according to its official website.