• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
Crime

A Real Shell Game: Lawsuit Alleges $1.5 Million Worth of Maine Lobsters Were Embezzled by Company’s Co-Owner

By
Brittany Shoot
Brittany Shoot
Down Arrow Button Icon
By
Brittany Shoot
Brittany Shoot
Down Arrow Button Icon
September 7, 2018, 7:18 PM ET
Scientists Release Lobsters To Repopulate Former Habitat
HELGOLAND, GERMANY - AUGUST 03: A volunteer with the Helgoland Biological Institute (Biologische Anstalt Helgoland), part of the Alfred Wegener Institute for Polar and Marine Research, tosses an adult female European lobster (Homarus gammarus) into the North Sea before also releasing baby lobsters on August 3, 2013 off the coast of Helgoland Island, Germany. Scientists released a total of 415 one-year old lobsters as part of an effort to repopulate the lobster population around Helgoland (also called Heligoland). In the 19th century local fishermen caught up to 80,000 lobsters a year in the surrounding waters, combined with the heavy allied bombing of the island during and after World War II, as well as other environmental factors, decimated the lobster population. (Photo by Sean Gallup/Getty Images)Sean Gallup Getty Images

A Maine lobster wholesaler is claiming it was caught in a bad trap. Sea Salt, a wholesale lobster company and restaurant in the town of Saco, located southwest of Portland, is suing one of its owners. In the lawsuit, Sea Salt alleges that Matthew Bellerose embezzled nearly $1.5 million worth of lobsters by creating a sham customer account. The phony account was never billed, and the suit alleges the lobsters may have been resold elsewhere, according to the Portland Press Herald.

Sea Salt is still investigating the loss and claims the damages may actually exceed $2 million. The company is seeking damages of at least $1.4 million. Bellerose, who owned 20% of the company, was fired from the firm by the other partners in June.

According to suit, Bellerose blamed the alleged embezzlement on needing to pay for his ownership stake in the company. The suit also notes that he admitted to the crime and offered to pay back his partners over text messages that read, in part, “Guys, I just want to say I’m really sorry. I’d like to resolve this as best as I possibly can with you guys without my innocent family having to suffer for my bad decisions.”

A similar case was reported in January, when a former employee of a different wholesaler plead guilty to wire fraud after shipping 50,000 pounds—or about $360,000 worth of lobster—to a client in China. When the wholesaler was unable to collect payment, they discovered its salesman had been defrauding the firm. The former employee pleaded guilty and faced up to 20 years in prison and a $250,000 fine, according to reporting by the Press Herald.

Lobstering is a billion-dollar economy in the Pine Tree State, employing thousands in an industry reliant on wild catch of American lobsters. So it’s no surprise that loss of lobster profits regularly snags headlines in Maine and across New England, especially during peak harvest season, which lasts from July to November.

About the Author
By Brittany Shoot
See full bioRight Arrow Button Icon

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in

Crypto
Tether announces it has brought on a Big Four firm to conduct long awaited audit 
By March 24, 2026
1 minute ago
Aravind Srinivas, wearing a white sweater, lifts both of his arms in front of him.
Future of WorkLabor
Perplexity CEO says AI layoffs aren’t so bad because people hate their jobs anyways: ‘That sort of glorious future is what we should look forward to’
By Sasha RogelbergMarch 24, 2026
60 minutes ago
BlackRock CEO Larry Fink
EconomyInequality
Billionaire Larry Fink says you’re wrong to think that AI stealing your job is the big problem—it’s really about what it’s doing for his class
By Tristan BoveMarch 24, 2026
1 hour ago
boardroom
AIJobs
CFOs admit privately that AI layoffs will be 9x higher this year—and still a fraction of ‘doomsday’ predictions
By Jake AngeloMarch 24, 2026
1 hour ago
U.S. President Donald Trump speaks to reporters before boarding Air Force One at Palm Beach International Airport on March 23, 2026 in West Palm Beach, Florida.
EnergyIran
Trump’s trillion-dollar TACO that wasn’t: Iran confronts the master of the deal with a partner he can’t bully
By Eva RoytburgMarch 24, 2026
1 hour ago
NewslettersMPW Daily
Female founders had a record year. But a wave of ‘zombie unicorns’ is looming
By Emma HinchliffeMarch 24, 2026
2 hours ago

Most Popular

Commentary
The Treasury just declared the U.S. insolvent. The media missed it
By Fortune EditorsMarch 23, 2026
1 day ago
Personal Finance
Current price of gold as of March 23, 2026
By Fortune EditorsMarch 23, 2026
1 day ago
Economy
It took 200 years for national debt to hit $1 trillion. Annual interest alone now exceeds that—a 'crushing legacy we must reverse,' says budget chair
By Fortune EditorsMarch 23, 2026
1 day ago
Personal Finance
Current price of oil as of March 23, 2026
By Fortune EditorsMarch 23, 2026
1 day ago
Economy
Larry Fink says today's economic anxiety stems from people increasingly feeling like capitalism isn't working for them
By Fortune EditorsMarch 23, 2026
1 day ago
Health
Trump has TACO'd again, this time in Iran, sparking a $1.7 trillion stock market rally in minutes, even as peace talks are in question
By Fortune EditorsMarch 23, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.