BALTIMORE, Md. - Pasadena fast food executive Mark Chandler Goodnow, was sentenced Wednesday to two years in prison followed by three years of supervised release for wire fraud in connection with embezzling more than $885,000 from a corporation he controlled. Goodnow was ordered by to forfeit and pay restitution of $885,071.
According to his plea agreement, Goodnow was the president and chief executive officer of a national fast food franchise that maintained its principal office in Severna Park, Maryland. From 2006 to 2012, on more than 200 occasions, Goodnow spent a total of approximately $885,071 of the company's money to pay three Texas women for telephone sex and their personal expenses, and to pay prostitutes in Maryland. Goodnow concealed the unauthorized expenditures by reporting them in the company's records as advertising expenditures.
The sentence was announced by United States Attorney for the District of Maryland Rod J. Rosenstein and Special Agent in Charge Richard A. McFeely of the Federal Bureau of Investigation.
"A corporate executive violates his duty of trust to shareholders, investors and taxpayers if he spends money for his personal benefit and falsely report it as a business expense," said Rosenstein.