Wednesday, September 30, 2009

California Woman Pleads Guilty To Embezzling $400K From Danielle Steel

Kristy S. Watts, aka Kristy Siegrist, 47, of San Rafael, California, has pleaded guilty to federal charges she embezzled some $400,000 from novelist Danielle Steel, for whom she worked as a bookkeeper for 15 years handling payroll and accounting and coordinating household and travel expenses. According to a lawsuit filed by Steel against Watts, it is alleged that Watts embezzled as much as $2.7 million. Watts pleaded guilty to one count of wire fraud and four counts of tax evasion. Under the plea agreement, Watts will be sentenced to 31 months in prison and must pay restitution. According to prosecutors, the scheme lasted from 2003 to 2008. Watts allegedly manipulated the payroll to pay herself more than her salary, wrote blank checks for cash for her own benefit and misused company credit cards.

Read the story here and here.

1 comment:

Anonymous said...

How does someone pay restituion on $400,000 let alone 2.7M. They should stay in jail until they can come up with the money.