Police arrested two Southington residents, Michael Siedel, 39, and Karol Siedel, 63, Thursday for allegedly stealing from a local company they owned.

The Siedels were charged with two counts of first-degree larceny and conspiracy to commit first-degree larceny.

“The Siedels were arrested after it was alleged that money was embezzled from J&M Electric of Southington to K&J Construction owned by the Siedels. K&J was doing construction work in (Connecticut) and a home was purchased in Marco Island Florida,” Southington Police said in a statement.

Bond was set at $100,000. The Siedels were expected to appear in court the same day as their arrest.