Peggy Kaye Witts, 62, of Redding, California, was sentenced to four years in federal prison for her role in the embezzlement of more than $850,000 from Voorwood Co. of Anderson, California. She is also ordered to pay restitution of $824,333 plus back taxes of $199,858 for looting from the retirement accounts of the company for which she served as president. In July, Witts pleaded guilty to one count of wire fraud and one count of tax evasion in the case. Witts, who was hired originally as as an accountant in 1991, later became CFO and ultimately president in 2002. According to the complaint, Witts issued checks to herself and to family members over a four year period and charged her on 25 counts of mail fraud, wire fraud, false filing of a pension plan document, money laundering and tax evasion.
Read the story here and here.
See original government press announcement here.
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