Midland Man Arrested After Allegedly Stealing Nearly $700K From Employer

MIDLAND, TX — A Midland man was arrested Monday for allegedly stealing $683,000 from his employer over a period of about three years.

According to a report from NewsWest 9, Jason Babb worked as a financial controller for an oilfield equipment company, and he used that position to make numerous electronic transfers to cover gambling losses.

The unauthorized transactions began in January 2022, according to the business owner.

Babb told investigators he didn’t realize how much he had taken, reportedly saying that he "did not know that some amounts here and some amounts there would add up to so much."

Babb has since been released from Midland County Jail.