ABC News' Ryan Owens, Robyn Weil and Joshua Hoyos report:

The former head honcho of accounting at a well-known Texas bakery is accused of taking a huge and illegal piece of the pie. A federal grand jury indicted Sandy Jenkins on charges he embezzled more than $16 million over 8 years.

Prosecutors say Jenkins supplemented his $50,000 yearly salary by stealing bakery funds and using that extra dough to live a life of luxury with his wife, Kay, who has also been charged in this indictment.

From private trips on jets and a $700,000 vacation home to a Mercedes and a multi-million dollar watch and jewelry collection.

But Jenkins' sweet deal ended when the FBI came knocking last year, seizing an assortment of riches, including a Louis Vuitton luggage set, his vast collection of art and wine and even a bar of gold.

Brett Bonner Stalcup, Jenkins' attorney, told "Good Morning America" that Jenkins plans to plead guilty to all charges in the indictment.

"He has accepted responsibility for everything that he has done, he feels terrible about the situation and how he has affected so many people," Stalcup said.

Stalcup also said that the fraud was all part of a half-baked notion to please Jenkins' now-estranged wife.

"I think my client was doing a lot to try to make his wife happy," he said.

Kay Jenkins was not implicated in the fraud until now. Her lawyer did not return our request for comment.