State board revokes license of Alexandria accountant
The Minnesota Board of Accountancy revoked the certified public accountant (CPA) certificate held by Michael Paradee of Alexandria.
The board took the disciplinary action on May 12 after reviewing a complaint against Paradee.
While Paradee and his firm were working for Ebenezer Lutheran Church near Leaf Valley between October 1, 2010 and December 24, 2010, Paradee wrote $13,500 worth of checks from the church to ether himself or to “cash” without authorization or permission from the church. He used the money for his personal use.
Paradee was convicted of felony theft on September 6, 2013 in Douglas County District Court after he pleaded guilty to the crime.
The court placed Paradee on supervised probation for 10 years and one of his conditions is “not to be in any position to handle finances of anyone else during probation.”
The accountancy board said that Paradee failed to report his conviction to the board, as required under Minnesota statute.
After five years or when Paradee’s probation ends, he may petition the board to reinstate his CPA permit.
When contacted by the Echo Press, Paradee provided the following written statement:
“I regret that this incident occurred. I have fully cooperated with the investigation by local authorities and the Board of Accountancy. I have fully accepted responsibility, immediately made restitution and have implemented procedures which will ensure compliance with the consent order. As a result, I believe my practice will become more focused and I will be better able to serve my clients. I apologize for any inconvenience or embarrassment my actions may have caused."