Ex-Bakery Executive Pleads Guilty In $17 Million Embezzlement

Sandy Jenkins (right) in an undated photo. (Courtesy photo)

CORSICANA (May 20, 2014) Former Collin Street Bakery comptroller Sandy Jenkins, 65, who’s accused of stealing nearly $17 million from the landmark Corsicana business over the course of eight years, pleaded guilty Tuesday in Dallas to three counts of a 22-count superseding indictment.

U.S. Magistrate Judge Renee Harris Toliver accepted Jenkins' plea to mail fraud, conspiracy to commit money laundering, and false statements to a financial institution and set a Sept. 10 sentencing date.

Jenkins earlier pleaded not guilty to charges in a 10-count federal indictment handed up in September 2013 charging mail fraud, but then in March, a federal grand jury in Dallas returned the superseding indictment against Jenkins and his wife Kay.

The new indictment added three money-laundering counts against Sandy Jenkins and charged him and his wife with a money-laundering conspiracy count, six counts of aiding and abetting money laundering and two of making a false statement to a financial institution.

Kay Jenkins has pleaded not guilty to the charges, according to online case records

Court documents say Jenkins orchestrated a scheme to defraud Collin Street Bakery by writing almost 900 fraudulent checks from 2005 through June 2013.

Jenkins was fired on June 21, 2013, after company officials learned of the embezzlement scheme.

Jenkins, who was arrested in August 2013, was the bakery’s comptroller from February 1998 through June 21, 2013, wrote 888 fraudulent checks on the company’s accounts to pay personal bills including an American Express tab totaling more than $11 million, $1.2 million in charges at Neiman Marcus, and a Citi Card tab of more than $1.9 million, an affidavit said

The theft, which cost the bakery about $16.65 million, funded what the affidavit described as “a lavish lifestyle that included houses in Corsicana, Texas and Santa Fe, N.M.; approximately 43 luxury automobile purchases for (Jenkins), his wife and his daughter; frequent travel on private planes around the United States and abroad; and a watch-jewelry collection that, based on preliminary estimates,” has approximately $3 million in value.”

Jenkins spent about $3.2 million to book 232 private charter flights from 2005 to 2013 from North Dallas Aviation, the affidavit says, and made frequent trips not only to Santa Fe, but also to Martha’s Vineyard, Mass., Aspen, Colo., the Caribbean and Napa, Calif.

Jenkins is a Dallas Baptist University graduate with a degree in business administration who went to work for the bakery in January 1998, according to a profile on Linkedin.

He graduated from Wortham High School in 1967, according to his profile on MyLife.