Feds Say Exec|Dipped His Beak

     DALLAS (CN) – The senior controller for Rainier Capital Management, a Dallas-based real estate investment firm, faces a federal charge of stealing company money.



     Johnny Lee Allie is charged in a criminal information with one felony count of wire fraud.
     Prosecutors say he forged signatures of company principals “on 87 occasions,” from May 2007 to July 2011.
     The information does not state how much money Allie is believed to have filched, but it cites a single transaction in the “scheme and artifice to defraud” that was a wire transfer of $110,000 to Allie’s account.
     As senior controller, Allie had control over the firm’s investment and corporate bank accounts.
     The information states that most of the wire transfers went to Allie’s personal account, with the rest going to unspecified third parties.
     He allegedly prepared false and misleading financial statements showing false balances in the accounts.
     “Allie also took steps to avoid detection. For instance, he continually refused to make the Rainier investment and corporate accounts available to Rainier’s principals through the Internet, opting instead to limit access to the accounts to himself,” the information states.
     Rainier says on its website that it has overseen more than $250 million in office, retail, medical and hotel investments since 2005, and provides asset management services to more than 3,000 investors in properties valued at more than $1 billion in 24 states.

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