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A former CEO of a Chicago-based digital marketing firm has been indicted for embezzling more than $900,000 in company funds over a three-year period, according to the Office of Cook County State’s Attorney Anita Alvarez.

Gary Allen, 41, who formerly served as CEO of the firm known as Adgooroo, has been indicted on a Felony Theft charge and faces up to 15 years in prison if convicted.  Allen, who currently resides in Minneapolis, was terminated from the firm in 2009.  The company provides marketing data to online advertisers. 

According to prosecutors, Allen’s thefts began in 2006 when he began transferring funds from the company’s accounts to his own bank account. When an employee questioned the transactions, he indicated they were reimbursement for various company expenses even though they all were being paid to his personal account.

As the thefts accelerated and began to impact the business, Allen directed an employee to prepare financial reports reflecting higher cash balances in the company’s accounts to deceive the company’s board of directors. Two potential sales of the company fell through when the defendant delayed audits of the company’s finances for the prospective buyers. 

Prosecutors reviewed bank statements, company financial records, and interviewed Allen’s former colleagues. Ultimately, it is believed that Allen’s thefts amounted to over $900,000. 

Allen pled not guilty when he appeared before Judge Mary Roberts at the Cook County Criminal Courthouse. His case was continued to December 21st.

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