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Wed March 17, 2010
Convicted embezzler gets MI tax credit
LANSING, MI –
The Michigan Department of Corrections is investigating whether a convicted embezzler who snagged a $9.1 million business tax credit from the state has violated parole.
RASCO CEO Richard A. Short shared the stage Tuesday with Gov. Jennifer Granholm as she introduced the leaders of companies awarded tax credits. She said RASCO - short for Renewable and Sustainable Companies LLC - planned to invest $18.4 million to establish a new headquarters in Flint.
Corrections records show Short was convicted in 2002 of embezzling money from Harding Energy Inc. of Norton Shores. He also has fraud convictions in Oakland and Genesee counties.
State corrections spokesman Russ Marlan says Short remains on parole and owes $96,000 in restitution.
Calls requesting comment were left Wednesday for Short.