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Technology Stocks : Jabil Circuit (JBL) -- Ignore unavailable to you. Want to Upgrade?

To: Asymmetric who wrote (6134)	11/8/2002 7:28:07 AM
From: Asymmetric	Read Replies (1) \| Respond to of 6317

Jabil manager accused of grand theft Idaho Statesman / Oct 25, 2002 MERIDIAN — A Jabil Circuit manager was charged Thursday with stealing more than $500,000 from the technology manufacturer, which announced last month that it will close its Idaho operations at the end of the year. Joseph Emil Ricca, 34, of Meridian was arrested by Meridian police Thursday morning at Jabil´s Meridian plant. Ricca, Jabil´s Global Business Unit materials manager, faces one count each of racketeering, money laundering and attempted grand theft, plus five counts of grand theft. He was booked into Ada County Jail in lieu of $5 million bond. Meridian Police Chief Mike Worley said the arrest is the result of what may be the largest money-laundering case handled in Meridian and one of the largest in the Treasure Valley. Police allege Ricca stole $537,798 from Jabil during the past year and was attempting to steal $209,162 at the time of his arrest. Worley would not detail how Ricca allegedly got the money or what he did with it. “He did have access within the company to gain access to files,” Worley said. Jabil officials in Meridian declined to comment Thursday and directed calls to the company´s Florida offices. Calls there were not returned Thursday evening. Worley said additional arrests are likely. “He was not alone in this,” Worley said. He declined to elaborate. Meridian Police Lt. John Overton said detectives were contacted about two months ago by Jabil officials who said they had discovered money was missing. Other agencies involved in the case include the U.S. attorney´s office, the FBI and the Ada County prosecutor´s office. Jabil officials announced last month that they would close the Meridian plant, where the company has produced electronics equipment since 1998. The plant had an annual payroll of $23 million. A local economist has estimated that Jabil´s pullout could mean the departure of more than $50 million from the area economy.