CEO Stole $7 Million from Company to Fund Luxury Lifestyle; Where Did He Spend All the Money?

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By Keerthi Mohan | April 1, 2014 8:39 PM EST

The former CEO of a London-based training company has been slapped with a lawsuit for embezzling more than $7 million from the firm to fund his luxury lifestyle.

Reportedly, Aaron Thomas shelled out $171,000 on a Tiffany engagement ring for his Brazilian fiancée.

Aaron Thomas, 26, was sacked from Oakmont Trading Ltd earlier this year for squandering company money, and according to the New York Post, the company is seeking legal action to recover the amount.

“While Thomas has made some disclosures as to the whereabouts of the misappropriated funds, a sum of around [$2.5 million] remains unaccounted for,” the suit stated, according to the New York Post.

Thomas founded the company in 2010 and later sold 74 percent of the company’s stock to investors, Oakmont Trading Ltd stated in the lawsuit filed in the Manhattan Supreme Court on Monday.

The company, which is suing Thomas in London, decided to file a lawsuit against him in the U.S. as well because its former CEO and fiancée are staying in Manhattan.

Reportedly, Thomas spent a good amount of the company money to aid his luxury lifestyle, which included paying $14,500 a month for a Manhattan apartment and shelling out $171,000 on a Tiffany engagement ring for his Brazilian fiancée.

The Australia native even used $20,000 of the company funds to get breast implants for his beloved, although it is not sure if it was for his fiancée because the lawsuit stated that Thomas has had multiple girlfriends between 2012 and 2013.

In addition to that, Thomas spent $91,000 of company funds on a trip to Las Vegas in May 2013 and another $121,500 was spent on designer watches. About $2.8 million was spent to buy an Aston Martin, Porsche Cayenne, an Audi and a BMW.

A number of flights taken by Thomas and his girlfriends, including fiancée Thaiana Rodrigues were also paid using the company funds.

“During a Caribbean vacation in Turks & Caicos for himself, Rodrigues, and members of Rodrigues’ family, Thomas chartered a luxury yacht and private jet for his travel companions at a cost of over $30,000, both of which were paid for with Oakmont funds,” the suit stated.

Thomas has vowed to file a counter lawsuit against Oakmont Trading Ltd, the New York Post reported.

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(Photo: Reuters / )
Reportedly, Aaron Thomas shelled out $171,000 on a Tiffany engagement ring for his Brazilian fiancée.
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