Allen R. Foster, the former general manager of Smart Motors in Madison, has been charged with fraud and money laundering by federal prosecutors. Foster was charged on 12 counts of wire fraud, eight counts of money laundering, and for creating bank accounts under a fictitious company name where the stolen money was deposited.
Twelve checks were written totaling $122,925, and eight money-laundering transactions totaled $55,600, according to the Wisconsin State Journal. Reportedly, Foster was using the money to fund romantic and sexual encounters with women, and to pay for two homes.
A lawsuit filed last year against Foster by Smart Motors alleged embezzlement of about $3 million, including the theft of $750,000 in sales staff incentive bonuses and more than $600,000 charged on a company credit card for personal travel and other expenses. Foster denied the charges in the civil case.
