Ex-military supplier charged with stealing $1.6 million
NEWARK — The former head of a Licking County military equipment company has been charged with stealing about $1.6 million from his former employer.
Investigators say Yoav Kapah, 67, of Granville, fraudulently used a company credit card, accepted kickbacks from customers and siphoned funds in his position as president and chief executive officer of ArmorSource.
The Hebronbased company manufactures helmets and other protective gear used by the military and law enforcement.
Court documents say that Kapah began stealing money in early 2012, after the death of the company’s owner. The theft was discovered by an accounting firm hired after discrepancies were found in the company’s financial records, according to documents.
Kapah faces one felony charge of theft and was being held in the Licking County jail Wednesday.
In a released statement, ArmorSource President Brad Grunden said Kapah was removed as the company’s president and CEO in late April 2017 and ultimately fired in July.
“We are in full support of the fraud investigation, having turned over financial and other records to bring these charges to light,” he said. “We will continue to cooperate with authorities as needed but are also keenly focused on our mission and the legacy of our founder, Larry Dickson, to enhance the survivability of the warfighter by improving the capabilities of advanced ballistic head protection products with a focus on high quality products that perform above and beyond stated requirements.”