John Doorly, 60, of Topsfield was charged in a federal indictment Wednesday of assessing millions in phony fees, transferring company funds to himself

John Doorly, 60, of Topsfield was charged in a federal indictment Wednesday of assessing millions in phony fees, transferring company funds to himself and hiding the theft with various schemes, including false financial statements. Doorly faces up to 20 years in prison, if convicted.U.S. Attorney's office said in the indictment that Doorly had stolen "more than $20 million" from Tenens Corporation, which was created to manage trusts for more than 100 descendants of the late Frederick Ayer Jr., who owned textile mills in Lowell. In a May 2008 lawsuit by Tenens against its auditors, the company estimated the theft at $57 million.Tenens attorney Will Nystrom said Doorly "looted" the family and "joins the likes of disgraced money manager Madoff." (Bernard Madoff is accused in a separate case of duping investors out of as much as $50 billion in what may be the largest Ponzi scheme ever.)
"The family is heartbroken by Doorly's personal betrayal, and stunned by the scope and audacity of his criminal acts," Nystrom said in statement Thursday.A call to a listing for Doorly was not immediately returned on Thursday. His attorney, John Andrews, said his client will plead not guilty. Doorly received a court summons and no date has been set for his arraignment, Andrews said.The trusts managed by Tenens are estimated at "hundreds of millions of dollars" by the company in its suit against its auditors. Doorly worked at Tenens for more than three decades before he was fired in March 2006 after his alleged theft was uncovered. According to the indictment, Doorly was paid $240,000 at Tenens in his last position as Chief Operating Officer.