Ovation's Chief Financial Officer Charged With Stealing $600,000 From Company

INDIANAPOLIS -- The former chief financial officer for Indianapolis-based Ovation Audio-Video Solutions has been charged with multiple felonies for the theft of approximately $600,000 from the company.

Alfred Talens is accused of using company funds to pay for personal expenses, allocating payments to himself in excess of his salary and withdrawing cash from corporate accounts. The thefts are alleged to have begun in late 2011, four months after Talens was hired as CFO. In May 2014, a company official reported suspicious purchases, cash withdrawals, and checks written from the company’s corporate accounts had been discovered.

“Employers and coworkers place a great deal of trust in individuals who have authority over a company’s finances," Marion County Prosecutor Terry Curry said. "Too often we see that trust exploited by individuals who divert company dollars and property to their personal use, as alleged in this case.” 

According to the probable cause affidavit, company funds were used by Talens for personal expenses including appliances, technology, and home improvement materials for his home; a sports club membership and related expenses; airline tickets; Indiana Pacers’ tickets; and payments on a loan for a recreational vehicle.

Talens is also accused of taking $240,000 from a client he served while acting as an investment advisor at Ascension Wealth Management Group. It is suspected that Talens indicated to the client that the funds were withdrawn to be an investment in Ovation, but were deposited in the Ovation corporate account with the intention of using the funds for personal expenses or to hide his theft from the company.