Monday, December 1, 2008

West Virginia Woman Sentenced To 3 Years For $700K Embezzlement

Marcia L. Masters, 43, of Kenova, West Virginia and the former administrative officer of the Guyan Conservation District, was sentenced today to 3 years in prison for embezzling some $704,000 from the organization during her tenure between 2003 and 2007. As part of her sentencing, Masters was also was ordered to pay $704,606 in restitution. She also had to forfeit two vehicles and the proceeds from a business she bought and sold, Pet Palace, between 2007 and 2008. As administrative officer, Masters had access to the finances and was able to deposit checks intended for various projects and then "skim" some by redepositing funds into her own personal accounts.

Read the story here, here and here.

This article describes the inadequacies of a standard audit in uncovering embezzlement schemes like the one in the Masters case.

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