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Former Times employee charged with embezzlement

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By Dustin Lemmon and Kurt Allemeier | Tuesday, February 20, 2007 5:42 PM CST | () comments

Earl Beasley, a former employee at the Quad-City Times, leaves the Federal Building in Davenport with his wife, Julie, after their first appearence in U.S. District Court for defrauding the Quad-City Times. (John Schultz/QUAD-CITY TIMES)

BREAKING NEWS: (Updated: 4:37 p.m.) A former Quad-City Times employee and his wife made an initial appearance in federal court this afternoon on allegations that they stole $921,546 from the company through wire and mail fraud.

ONLINE EXCLUSIVE

Read the court documents related to this case.

Earl and Julie Beasley were arrested at their residence in Taylor Ridge, Ill., by the FBI and released on a $250,000 personal recognizance bond after the hearing.

The two are due back in U.S. District Court, Southern District of Iowa, on Friday for another hearing at which the government will discuss the possibility of freezing their assets. They are not to withdraw more than $200 at a time from their checking account.

The alleged fraud occurred from 1997 to January this year, according to court testimony.

The U.S. Attorney also said the total losses could top $1 million, noting that credit card purchases to Cabela’s, an outdoors outfitter, dating back to 1998 were not included in the $921,546 amount.

The Davenport Police Department Criminal Investigation Division initiated the investigation before receiving assistance from FBI agents and the Internal Revenue Service because of the possible seizure of assets, money laundering and other federal offenses, Davenport police reported.

Davenport police have referred questions about the case to the FBI and U.S. Attorney’s office.

"During a routine inspection process, we discovered indications of possible misuse of company funds," Times Publisher Julie Bechtel said in a statement. "The police were contacted and an investigation has resulted in criminal charges and an arrest.

"We are cooperating fully with the police and other agencies."

Earl Beasley, 51, was building maintenance supervisor at the Times from August 1989 until January 19, 2007.

Dustin Lemmon can be contacted at (563) 383-2493 or dlemmon@qctimes.com