Search warrant issued for home of suspended GM accused of embezzling $740K
MADISON, Neb. – Authorities in northeast Nebraska are looking for the suspended North Fork Area Transit general manager accused of embezzling nearly three quarters of a million dollars.
A hearing was held in Madison County Court Monday morning as judge Donna Taylor granted a search warrant for Jeffrey Stewart’s Stanton home.
A warrant had been filed for Stewart’s arrest on Friday. He has not yet been taken into custody.
Investigators with the Madison County Sheriff’s Office compiled a report on Thursday and filed official court documents on Friday, the same day that the Norfolk City Council met in an emergency session to discuss paying $88,155.59 to North Fork Area Transit in order to make payroll.
According to North Fork Area Transit’s legal counsel, there was no cash on hand to handle financial obligations, in this case, payroll. The payroll was due the day the emergency meeting was held, requiring city funding to meet their needs.
Stewart is accused of embezzling over $740,000 for flights, purchases at casinos, meals at area restaurants, home good and more, all for personal use, according to investigators.
A NFAT board member reportedly reviewed purchases made by Stewart on the company credit card, and his card was frozen on Sunday.
The Norfolk City Council unanimously approved providing NFAT with funds to cover payroll on Friday.
"I think it's something we already dedicated money to, and we need to move forward," councilman Corey Granquist said at the Friday meeting. "It's the fact that it's people's lives and it's not just the people who work there, but the people that are going to work."
Stewart, a Texas native, was officially announced as the North Fork Area Transit GM in February. The NFAT board announced his suspension at the Friday city council meeting.