Former executive at Granite Falls company gets prison for embezzling $5.77 million

A former chief financial officer of a large Granite Falls contracting company was sentenced Tuesday to 6 ½ years in prison — the maximum allowed — for embezzling $5.77 million from her employer.

While working at Fagen Inc. as corporate controller and then CFO, Kirsten Ann Tjosaas looted the company from 2006 through 2015, spending illicit cash on several houses, at least three cars, two all-terrain vehicles, a motorcycle, a water scooter and a sailboat.

Tjosaas, a 38-year-old mother of two young children, pleaded guilty on May 6 to one count each of wire fraud and money laundering. With her sentencing by U.S. District Judge Donovan Frank, Tjosaas must also make $5.77 million in restitution.

http://www.startribune.com/former-granite-falls-executive-gets-prison-for-embezzling-5-77-million/393284691/