A former auto executive in Madison has been indicted on 20 counts of wire fraud and money laundering. Allen Foster, the former general manager of Smart Motors, was in federal court on Monday.
The amount of money he’s accused of embezzling in the federal indictment is just $180,000 but a separate lawsuit filed againt Foster by Smart Motors accuses him of stealing $3-million.
Investigators said Foster created bank accounts for a shell company that he used to deposit money taken from the dealership over a 12 year period. Foster is also accused of stealing cash bonuses intended for sales representatives.
Foster allegedly used the money to finance his personal expenses, including payments to women he met online and for property in La Valle and Sun Prairie.