Another official of bankrupt REA express company has been indicted on charges of embezzling funds from the firm.
A. Raymond Taintor, of Bricktown, N.J., the former executive assistant to the president of the firm, Tom Kole, was indicted by a federal grand jury in New York on charges of taking more than $34,000 in cash in 1973 and 1974.
But sources close to the investigation said that Taintor allegedly took nearly $100,000 dating back to 1971. He supposedly took about $2,000 a month in cash. But because of the siatute of limitations on such charges, he only could be charged with actions dating back to 1973.
Kole is scheduled to stand trial later this month on charges that he took more than $100,000 in company funds for his own horse racing business.
Two other REA officials and a relative of Kole were indicted in that case. One official has pleaded guilty. The other apparently made a deal to cooperate with federal officials, and charges against him were dropped. Kole's sister-in-law is scheduled to go on trial with Kole on Jan. 30.
The indictment charges that Taintor did "unlawfully, knowingly and willfully embezzle, steal, abstract, and willfully convert to his own use and the use of others, willfully misapplied and willfully permitted to be misapplied moneys, funds credits, securities, properties and assets of REA."
If convicted Taintor faces a sentence of up to ten years in federal prison and a fine of $5000 or both.
Prior to its November 1975 bankruptcy REA was the nation's largest express service company.