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Famous fruit cakes purveyor admits to $16M fraud

It was a dark day in a Dallas Federal Court room Tuesday as Sandy Jenkins of Dallas based Collin Street Bakery plead guilty to conspiracy to commit money laundering,  mail fraud, and making a false statement to a financial institution.

Far from a modest and secreted scheme, sixty five year old Jenkins allegedly engaged in a nine year scheme that included over two hundred private airline flights, lavish homes, and a vacation home.

Collin Street Bakery is famous for its cakes and confections, their fruit cakes being distributed around holiday collin street bakerytime and distributed nationwide.

This is yet another example of the entitlement culture that has taken over large corporations.  Working hard for your brand, fighting and vying for superiority in your industry is fine, hell, its American.  But a perversion has developed as we see the growing and growing disparity between the corporate elite and their workers – for some of them, why make more money when you can steal it?  I could name off dozens of corporate executives that have either bilked their investors out of money, misappropriated funds, or flat out stolen cash outright from their companies.

Very seldom do they engage in these schemes as a way to cheat to get ahead in their business, if that did it for that reason there is an argument to be made that it could be forgivable.  No, they did it so they could have 5 Bentley’s instead of one.  They stole the money so they could take private jets to Tahiti every weekend for a month, instead of just for Christmas vacation.

It will be interesting to see how this turns out.  But as I have observed, it seems like those that steal with a pen rather than with a firearm seem to do alright – and I highly doubt that he will spend his last days on this earth in prison.

2 Responses so far.

  1. Gail says:

    I think I read about this is the Star-Telegram. This whole scenario seems so familiar, because you hear about it all the time ie “likeable middlemanagment person does a great job at a working class salary but lives an upper class life. People at the company never grew suspicious at the extravagant live style?????

    A person I served with on a Midland elementary PTA board did this same thing– She was in charge of the money and the money never quite added up right and she took expensive vacations that she and her husbands salary couldn’t justify–but everyone groused and never pointed fingers. Later this woman WAS arrested– everyone was surprised– I FELT BETRAYED! Why– she smeared my trust and the trust of those around her. The woman at Collin Street bakery smeared the trust of those around her!

    This woman should be punished and severely!

    • That sounds horrible. People can often do more damage with the secreted types of thefts than the overt thefts. Thefts by deception seem to be occurring in greater frequency as the level of greed increases for some of the corporate executives in these positions.

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