Eric Michael Skipper, a Wichita Falls man, has been arrested and charged with stealing more than $300,000 from his employer, Lipscomb Power Sports. The theft, which occurred on August 1, 2018, was revealed following an audit and has resulted in Skipper facing a first-degree felony charge.
Skipper, who was employed by the company that sells all-terrain vehicles, motorcycles, and trailers, was arrested on Wednesday and released from Wichita County Jail on a $250,000 bond. Theft of $300,000 or more carries a severe punishment, with penalties ranging from five years to life in prison.
According to court documents, an internal audit uncovered that Skipper had been embezzling money through a series of fraudulent returns, manipulation of sales records, and exploiting weaknesses in the company’s software and bookkeeping systems. The total amount stolen is estimated at $331,983. During a police interview, Skipper admitted to taking money, including cash from a down payment on at least one sales transaction, and stated that he did so to “support his family and his lifestyle.”
Skipper was reportedly the only employee with access to the transaction records, allowing him to conceal the theft. He now faces serious charges in connection with the embezzlement.
As with all cases, Skipper is presumed innocent until proven guilty in a court of law.
