A Maine man is behind bars after being accused of stealing $700,000 from the Brooklin Boat Yard while the boatbuilder employed him.
Local police say Steven Ngyren, 48, of Brooklin, was a longtime consultant for the company before becoming its chief financial officer. It was about that time, 14 months ago, that the money started going missing.
Hancock County District Attorney Matthew Foster told the Bangor Daily News that Nygren was charged with one count each of Class B theft and Class B forgery. Superior Court Justice Robert Murray set bail at $20,000 cash or $200,000 in real estate, Foster said.
If convicted, Nygren faces up to 10 years in prison and a fine of as much as $20,000. He was unable to post bond and is being held at the Hancock County Jail. The charges against him could change as a federal investigation begins.
The company sent local TV station WCSH 6 News Center a written statement about the ongoing investigation that reads, in part: “For many years Steve Nygren was a trusted consultant, employee and friend of Brooklin Boat Yard, so I’m surprised and saddened to learn that there may have been a breach of that trust.”
According to a police affidavit, $350,000 was used to support a general store Nygren owns in Brooklin. He allegedly used another $70,000 to pay for his daughter’s wedding.