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Michigan pharmaceutical exec pleads guilty to providing false financial documents for bank loan

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Michigan pharmaceutical exec pleads guilty to providing false financial documents for bank loan


CBS News Detroit Digital Brief for Jan. 24, 2024

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CBS News Detroit Digital Brief for Jan. 24, 2024

04:01

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(CBS DETROIT) – A Michigan man pleaded guilty after he admitted to submitting false documents to a financial institution related to a bank loan, the U.S. Attorney’s Office announced.

Officials say Theodore Toloff, 65, of Northville, worked as chief financial officer at Frank W. Kerr. The company had a credit agreement with two financial businesses, allowing it to borrow up to $60 million based on Kerr’s eligible accounts receivable and inventory.

Toloff told authorities that he falsified documentation, which included $18 million ineligible accounts receivable and Kerr borrowed additional funds after the documents were submitted.

He faces a maximum of 30 years in prison.

“The defendant admitted to providing false documents to a financial institution, undermining the law and integrity of our financial systems,” Special Agent in Charge Cheyvoryea Gibson of the FBI in Michigan said in a press release. “The FBI works tirelessly with our partner law enforcement and regulatory agencies to investigate those who commit financial crimes. We urge the public to submit tips on alleged crimes such as those detailed in this case to 1-800-CALLFBI (1-800-225-5324) or online at www.tips.fbi.gov.”  

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Michigan Gov. Whitmer lays out student literacy plan, says it will be her top priority

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Michigan Gov. Whitmer lays out student literacy plan, says it will be her top priority


Literacy is on the decline in Michigan, and Gov. Gretchen Whitmer says she wants to stop it in its tracks.

The governor shared during this year’s Michigan Literacy Summit that one in three students in Michigan tests below average.

Michigan used to rank higher, but nowit is 44th in the nation when it comes to reading at grade level. Whitmer says it’s due to multiple things, from decades of disinvestment in education to the pandemic.

“Literacy is directly correlated to higher incomes, greater productivity more innovation,” Whitmer said at the summit.

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For the rest of her term as governor, Whitmer says literacy will be her top priority.

“A literate population is more civically engaged, more empowered, more equal,” said Whitmer.

In a room filled with educators from across Michigan, the governor didn’t place blame for the problem, but encouragement and next steps to improve literacy, such as proper resources and training.

“They’re taught by skilled, qualified educators who are getting more and more of every year with scholarships, retention and recruitment programs,” said Whitmer.

Educators say support, such as funding, has helped them be better educators to their students. Teachers say helping them pay for expensive training has allowed them to reach their students in a new way.

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“All of these things accelerated my knowledge and just gave me hope for Michigan’s direction,” said educator David Pelc

However, Whitmer recognized it’s not just the knowledge they are teaching, it’s the ability to connect with the young minds, especially in a world that is ever changing.

“They are growing up against rapidly changing technology, rising mental health challenges, increasing political division, they see violence playing out, and its a uncertain economic environment,” said Whitmer.

From the state Capital, the governor emphasized the bills she has passed that help lead to improving literacy, such as free pre-K and school lunches.

 Whitmer says she plans to offer advice to future budgets and leaders to continue to improve literacy in Michigan.

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College basketball rankings: Michigan holds off Arizona at No. 1 in USA TODAY Sports poll

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College basketball rankings: Michigan holds off Arizona at No. 1 in USA TODAY Sports poll


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There is no change at the top in the USA TODAY Sports men’s college basketball coaches poll this week, but the margin for the No. 1 team is much closer.

Michigan is still first, receiving 16 of 31 No.-1 votes while keeping its record clean for another week. But No. 2 Arizona has closed within four poll points of the Wolverines with 14 first-place votes after the Wildcats blew away Alabama to rack up yet another ranked win on the road over the weekend. Duke holds at No. 3 overall, claiming the remaining first-place nod, and Iowa State and Connecticut continue to round out the top five.

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TOP 25: Complete USA TODAY Sports men’s basketball poll

In fact, the first 11 positions in the poll are the same. Purdue, Gonzaga, Houston, Michigan State and Brigham Young comprise the lower half of the top 10, with Louisville retaining the 11th spot.

Vanderbilt climbs two spots to No. 12 as Alabama slides four places to 16th. Nebraska makes the week’s biggest jump, a gain of seven positions to No. 15 after the unbeaten Cornhuskers defeated Illinois on the road.

No new teams enter the Top 25, as Iowa hangs on to the final spot after a loss to Iowa State.



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Bodies of missing snowmobilers recovered from icy Michigan lake

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Bodies of missing snowmobilers recovered from icy Michigan lake


MASON COUNTY, MI – The bodies of two missing snowmobilers were found Sunday morning.

Two Grand Haven men were recovered by first responders in six feet of water on Dec. 14 in Round Lake off Sugar Grove Road in Mason County’s Sheridan Township.

The riders, aged 65 and 49, were reported missing at 12:30 a.m. after their family had not heard from them for several hours, according to the Mason County Sheriff’s Office.

At first, through family of the missing, police believed the two may have been snowmobiling on trails in Lake County. 

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The Lake County Sheriff’s Office started searching trails in attempts to locate them.

Around 4:30 a.m., the search expanded to include eastern Mason County.

A searcher located snowmobile tracks leading onto Round Lake off Sugar Grove Road. A further search showed no tracks leaving the lake.

Due to darkness and heavy snowfall, a check of the lake from shore could not be performed.

At first light, police saw what appeared to be a snowmobile helmet several hundred yards offshore on the ice.

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Mason County Sheriff’s Office launched a drone when weather permitted and spotted a hole in the ice.

There was a helmet at the hole.

Rescuers attempted to get to the area, but kept falling through the ice, making rescue efforts impossible, the press release stated.

The Michigan State Police Dive Services Team and Mason County dive team were called to assist and made their way onto the ice.

An airboat from the Manistee County Sheriff’s Office responded to support recovery efforts.

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While the team worked to get to the hole in the ice, an MSP diver fell through the ice, but was properly tethered to another diver and was pulled from the ice unharmed.

Law enforcement recovered the bodies in approximately six feet of water. Two snowmobiles were also found submerged under the ice.

The Ludington Police Department, United States Coast Guard-Manistee, Michigan DNR-Law Enforcement, Branch Township Fire Department, Carr Fire Department, Fountain Area Rescue, Free Soil Fire Department, Hamlin Fire Department, Irons Fire Department, Luther Fire Department, Pleasant Plains Fire Department, Manistee Fire Department and Norman Township Fire Department all assisted at the scene.



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