$500,000 theft nets 3 years in jail for Downtown man | TribLIVE.com
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A Downtown man received a three-year jail sentence for using an international billing scheme to steal $500,000 from his Cleveland-based employer, the U.S. Attorney’s Office said.

David Bagdy, 52, of 915 Penn Ave. will be supervised for three years after his release and must pay $566,115 in restitution. U.S. District Judge David Stewart Cercone imposed the sentence.

Bagdy had worked from home as a sales consultant for North Star Forest Products, purchasing lumber from the Russian company Waldex-Onego. He had an arrangement with an employee at the Russian company in which he would overcharge North Star, and the two conspirators would then split the overpayments. The pair did this about 18 times from July 2003 to December 2004, according to the U.S. Attorney’s Office.

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