Monus, Michael I. - Former President of Phar-Mo...

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Michael I. "Mickey" Monus

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Mickey Monus is the former president of Phar-Mor, Inc., a defunct discount drug chain that established a strong national presence before declaring bankruptcy in the early 1990s. Accused of perpetrating a $350 million fraud and embezzlement scheme, Monus was fired from the company and faced criminal charges. He was born in Youngstown,Ohio, which is where Phar-Mor was headquartered.



Monus was eventually convicted of having embezzled $10 million.

[He] was convicted of one count of conspiracy, two counts of bank fraud, five counts of wire fraud, two counts of mail fraud, two counts of filing false income tax returns tax evasion, 96 counts of interstate transportation of stolen property fence (criminal) (money) and one count of obstruction of justice.

Monus was found guilty on the government's second attempt to try him; the first trial ended in a hung jury. He was later charged with jury tampering in the first trial, but was acquitted.

He was sentenced to 19½ years in federal prison and served 10 years. The sentence was reduced after Monus cooperated with federal authorities (FBI) in a case against another Youngstown fraudster, Richard Goldberg.