• November 26, 2014

Man indicted in $2.2M theft

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Posted: Thursday, July 10, 2014 4:30 am

BELTON — The case against a Killeen man accused of stealing millions of dollars from a local business continued to move forward Wednesday.

A Bell County grand jury indicted Hubert Norman Kott, 66, of Killeen, on a first-degree felony charge of theft of more than $200,000.

According to police investigators, Kott stole more than $2.2 million from the 195 Lumber Company in Killeen, where he worked as chief financial officer for 19 years.

An arrest affidavit stated Kott’s embezzling dated back to 2009. His position at the company put Kott in direct control of the money flowing into the business, and gave him access to the company’s assets and computer records system, the affidavit stated.

Last year, the business’ owner hired an accountant, who uncovered account discrepancies that “involved large amounts of money being stolen and covered up in the computer record keeping.”

The accountant found the thefts were happening on a weekly basis. When confronted by the accountant about the discrepancies, Kott told her she was “looking into things too much” and then left the company.

Kott was initially booked into Bell County Jail in March on $1 million bail. His lawyer later petitioned the court for a bond reduction, calling the bond amount “excessive.”

In April, Bell County 264th District Court Judge Fancy Jezek reduced Kott’s bail amount to $50,000, with the stipulation that it be paid in cash.

Kott bonded out of jail April 23, according to jail records. While out on bail, Kott is barred from selling or acquiring property or disposing of any assets.

If convicted, Kott could face up to 99 years in prison.

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