Independence Examiner newspaper manager accused of embezzling nearly $430K
A former business manager for the Independence Examiner newspaper is accused in Jackson County Circuit Court of embezzling more than $400,000 from the company over the course of three years.
Deneane M. Hyde, 58, of Blue Springs, is charged with one felony count of stealing more than $25,000, court records show. She withdrew money from the newspaper’s bank account, over which she had individual authority, and deposited funds into her personal bank account between 2018 and 2021, authorities allege.
A representative for the newspaper’s parent company, CherryRoad Media, did not immediately respond to The Star’s request for comment late Tuesday afternoon.
According to court papers, Independence police began investigating after being contacted by an attorney for the Independence Examiner on Jan. 31. Police were told that the money had been noticed missing from the bank following the recent transfer of ownership of the company to CherryRoad.
After contacting the bank, the company learned that there was $1,800 left in the account, according to court papers.
The bank provided statements to police that did not match those in the company’s finance department. Detectives later found that Hyde was the only employee with access to the affected account and had sole authority to sign checks, according to court papers.
Detectives found alterations to financial records that appeared to have been made “to conceal the theft,” court papers say. Among them was a document, allegedly created by Hyde, that showed the account balance was roughly $425,000 in November when there was around $2,800 in it.
Overall, investigators found a total loss of $428,470. Statements reviewed by police included branch withdrawals authorized by Hyde, checks deposited into her personal checking account and other withdrawals containing no signature, authorities allege.
A warrant was issued for Hyde’s arrest on Tuesday. In charging documents filed with the case, an Independence detective wrote that police had not been in contact with her since early June.
A detective working the case wrote in an affidavit seeking criminal charges that Hyde had canceled appointments to meet with investigators in April and May, including for a root canal and feeling “under the weather,” according to court papers.
Authorities also allege Hyde filed for bankruptcy protection in 2018, a case that remains active.
