A Maquoketa man was arrested last week after allegedly stealing almost $300,000 from his employer.
Davenport police arrested Dwayne Alan Rupp, 57, on Feb. 11 on one count of first-degree theft and one count of ongoing criminal activity, according to charging documents.
He was released less than three hours later after paying a $35,000 cash-only bond.
Rupp worked for LPW-I Inc., an industrial contractor, machine mover and fabrication company in Davenport, when he allegedly stole $290,036 from the company between 2013 and 2018, according to charging documents.
Rupp is accused of having a distributor buy items for him under false pretenses, then sending the bill to LPW-I for payment, the charging documents claim.
A forensic exam of his purchases showed Rupp gave fictitious invoices to his employer to get cash or buy equipment for his home and personal business, according to charging documents.
Under Iowa Code, first-degree theft is a Class C felony punishable by up to 10 years in jail and possible fines ranging from $1,025 to $10,245.
Ongoing criminal activity is a Class B felony punishable by up to 25 years in jail.
Rupp’s next court appearance for the criminal theft charge is scheduled for 8:30 a.m. Feb. 24.
Rupp declined to comment.