Annette C. Yeomans, 51, of Escondido, California surrendered to authorities Friday and was charged with grand theft and embezzlement in connection with her alleged theft of some $9.9 million from Quality Woodworks, Inc., of San Marcos, California, where she had been employed until last year as chief financial officer. According to investigators, Yoemans stole the money between 2001 and 2007 and spent it on renovations at her home and a lavish wardrobe that included $240,000 on 400 pairs shoes, $300,000 in designer clothing and 160 purses valued at $2,000 each. Yeomans reportedly would spend $25,000 over a weekend on personal items and pay it off with company funds. Meanwhile, Quality Woodworks had to lay off employees and was nearly bankrupt. She was terminated last year and agreed to turn over assets after American Express launched an investigation into the irregular charges and payments and notified company officers. Some $2 million has been recovered to date including proceeds from Yeomans' home, vehicles and other property. Her husband, John W. Yeomans, 48, was employed at the company too as an installer, but is not suspected in the thefts, according to reports.
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Does anyone remember Imelda Marcos?
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