Former Twin Cities executive pleads guilty to embezzling $3M to fund lavish lifestyle
July 13, 2023
A former Twin Cities property management executive has admitted to embezzling more than $3 million from his employer to fund a lavish lifestyle.
David E. Katz pleaded guilty in U.S. District Court in St. Paul to wire fraud in connection with the embezzlement while he was the chief financial officer for Durand and Associates (D&A) in South St. Paul from 2012 to until his firing in 2017.
D&A specialized providing homeowner association services that included lawn care, snow removal and building services in exchange for a monthly fee.