The former finance chief of a handbag company was arrested for defrauding his one-time employer out of more than $4 million. Martin Bonder, the ex-chief financial officer of New York City-based Victim Co., was charged with one count of wire fraud.

If convicted, he faces a maximum sentence of 20 years in prison and a maximum fine of $250,000, or twice the gain or loss resulting from the crime, according to Michael Garcia, the United States Attorney for the Southern District of New York.

According to the complaint, from 2004 through 2007, Bodner allegedly stole more than $4 million from the company by arranging for Victim to issue checks made payable to Bodner or to two credit card companies that held accounts in his name. Based on the court filing, Victim funds reportedly were electronically transferred from the company’s payroll account to a bank account maintained by Bodner.

When he was questioned by the company’s counsel, Bodner initially said Victim’s former chief executive officer authorized him to be reimbursed for personal expenses, noted the complaint. Shortly afterwards, however, Bodner allegedly admitted that he did not receive authorization to collect reimbursements.