Top official charged with taking $1.5M from Warren Fabricating
WARREN — The president of Warren Fabricating and Machining Corp. said it is “shocking and disappointing” that the company’s most senior and highest-ranking employee, Paul Theisler, has been charged with stealing more than $1.5 million from the company.
“We feel betrayed that years of trust have been violated,” Regina Mitchell said in a press release today. “But we are not standing still. Besides cooperating with investigating authorities, we have asked independent forensic auditors to dig deeply into our operation.
“We will then take steps necessary to improve our practices and security measures to help assure this never happens again.”
Theisler, 65, of Andrews Court in Canfield, was arraigned on one count of felony theft early this afternoon in Warren Municipal Court, where a not-guilty plea was entered for him.
He was expected to post $30,000 bond today and has surrendered his passport to his attorney, J. Gerald Ingram.
Judge Tom Gysegem also ordered Theisler not to withdraw any of the money in his IRA or retirement accounts.
Theisler waived a preliminary hearing, and his case is bound over to a Trumbull County grand jury.
The company discovered irregularities a few months ago, conducted an internal investigation and reported it to law enforcement, Mitchell said.
Theisler is a 38-year employee of Warren Fabricating, which was founded by John Rebhan, Mitchell’s father.