New Hampshire Woman Arrested In $700+K Embezzlement Scheme

According to FraudTalk sources, Julie Ann Garrow, 44, of Alstead, New Hampshire, has been arrested by federal authorities for allegedly embezzling some $711,000 from a Vermont-based family-run graphics shop where she had been employed as a bookkeeper for 14 years. Commencing shortly after she was hired, it is believed that Garrow essentially wrote checks to herself from company accounts by forging one of officer's signatures. Garrow was fired last year when the owners discovered discrepancies in the company's books and records. Garrow is believed to hail from Langdon, New Hampshire. The thefts from the small business caused such severe financial distress that nearly half a dozen workers had to be laid off in recent years, including Garrow's own husband, sources said.

Update 1: The story has now been published here.

Update 2 (3/30/10): Garrow has reached a plea agreement to plead guilty to one count each of forgery with intent to defraud and filing a false tax return. As part of the plea agreement, Garrow must pay $607,739 in restitution to Vermont Graphics, her former employer, and $81,325 to the IRS for unpaid taxes. Read the story here.

Update 3 (4/30/10): Garrow pleaded guilty this past Wednesday to two additional felony counts of uttering a forged instrument and making a false statement on a tax return. Read the story here.

Update 4 (12/10/10): Garrow was sentenced to 2 years in prison, plus 3 years probation. She must also pay restitution. Read the updated story here and here.