Former Collins Street Bakery bookkeeper arrested, accused of embezzling over $16 million

(KLTV) - The FBI arrested a former bookkeeper for Collin Street Bakery, accusing him of embezzling more than $16 million from the company and using the money to fund an extravagant lifestyle

Sandy Jenkins, 64, of Corsicana, was arrested on Monday by the FBI and charged with mail fraud.

Authorities allege that Jenkins, in his role as the corporate controller at Collin Street Bakery, printed checks with the president's electronic signature. The FBI claims that Jenkins accessed the accouting system and made checks out to his personal creditors from CSB's account. The FBI says a Jenkins then went into the accounting system and made it appear that the checks were voided.

Federal agents found that Jenkins purchased $3.2 million worth of charter flights from North Dallas Aviation. Those flights included frequent trips to his Santa Fe residence, along with Martha's Vineyard, Aspen, Turks and Caicos and Napa, CA. 

On June 26, the FBI began investigating after Corsicana police sent the case to them. The CSB estimated Jenkins embezzled over $16.5 million from January 2005 until his termination on June 21, 2013.

The Assistant U.S. Attorney filed a motion for detention because after his termination from the bakery in June, Jenkins and his wife gathered $62,500 in cash and two bags of jewelry and watches and fled to Austin.

Upon learning of an FBI search of his home, Jenkins took cash, jewelry and watches from his daughter's safe in Austin, placing the items in a grocery bag and telling his daughter to get the items out of the house because he needed to protect his "retirement."

An attorney later advised her to return the items to her father, which she did. The next day, Jenkins' wife and daughter met with an attorney and Jenkins left with the items in the grocery bag, which has not been seen since.

That same say, an off-duty office with the University of Texas Police Department discovered 16 watches, valued at around $250,000, a gold bar and two gold coins in and around Lady Bird Lake in Austin. Authorities are still investigating the recovered objects. Some of the watches were registered to Kay Jenkins.

On Monday, during a search of the home, Jenkins' daughter texted her father, asking where the grocery bag was. Jenkins did not respond.

"It is plain that Jenkins has taken steps to dispose of or destroy fruits of the crime ---  evidence of his criminal activities --- in an effort to obstruct justice in this case," said the motion to detain Jenkins.

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