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AMERICAN FORK — An officer in two Utah County irrigation companies embezzled more than $1 million, including selling water shares and keeping the money for himself, according to a federal indictment.
Michael Dean Shumway worked as the secretary and treasurer of the American Fork Irrigation Co. from 1998 to 2015 and held the same positions at Lehi Irrigation Co. from 2007 to 2015.
Shumway opened a bank account in the name of American Fork Irrigation Co., with himself as the sole signatory, and transferred $440,000 to the account, according to the indictment. Prosecutors also allege he sold $95,500 in water shares and kept the money for himself.
Shumway is accused of transferring $220,000 from Lehi Irrigation's money market account to a dormant account he controlled in the company's name. He allegedly had the bank statements mailed to his own post office box.
Shumway also sold $340,000 in Lehi Irrigation water shares and kept the money, according to the indictment.
In all, prosecutors allege Shumway stole $1.1 million over 11 years.
Shumway is charged with one count of mail fraud. He is scheduled to be arraigned in U.S. District Court next month.
