Accountant faces 6-year minimum for embezzlement

CODY (WNE) —- Carl Wheeler, former Sage Publishing Co. head accountant, was sentenced to a minimum of six years of jail time for four counts of felony theft after embezzling more than  $1 million in funds from his former employer.

Sage is the past, long-time owner of the Cody Enterprise and Gillette News-Record. The company is now owned by Bob Kennedy of Cody.

Wheeler, who was sentenced by Fifth Judicial District Court Judge Bill Simpson on August 8, had pleaded guilty to four counts of felony theft earlier this year. His sentencing marks the end of a nearly two-year ordeal, as he was initially arrested in October 2023.

Wheeler was incarcerated in the Park County Detention Center on August 8 and remained there as of Monday morning.

In an email to the police on September 20, 2023, Kennedy shared a report from First Bank of Wyoming that said “beginning in April 2011, Wheeler had stolen a total of $1,283,550.66” through electronic transfers.  

Later that day, Kennedy reported receiving an email from Wheeler claiming “his total ‘loan’ amount is $160,788.66” and that he was formulating a repayment plan.

During an interview with the Cody Police Department, Wheeler said he’d borrowed money from Sage in the past, with Kennedy’s approval, and repaid them out of his bonuses, a CPD affidavit said.

When Wheeler’s wife had some medical problems, Wheeler said he talked with Kennedy about more loans, but stopped when Kennedy seemed tired of hearing the requests, charging documents said. When Kennedy asked about the total of the loans, Wheeler said he’d lost track of some of the records.By his calculations, he had taken approximately $160,000.

Wheeler then mentioned to police that he had taken another $70,000 in loans. However, when told the amount was significantly greater, he stopped answering questions, the affidavit said.

This story was published on Sept. 8, 2025.