Tuesday, December 22, 2009

Wisconsin CFO Charged In $4.5 Million Embezzlement

Sujata Sachdeva, 46, of Mequon, Wisconsin, has been charged in a criminal complaint with wire fraud in connection with the alleged embezzlement of more than $4.5 million from Koss Corp., the publicly traded Milwaukee-based headphone maker where she was employed as vice president of finance. According to the complaint, Sachdeva made unauthorized transactions involving Koss accounts over the past two years, spending the money at clothing and jewelry stores across the Milwaukee area, including $1.3 million at Valentina boutique in Mequon, $130,000 in jewelry and $600,000 from a bridal store in Milwaukee,. Sachdeva, who has been employed by Koss since 1992, has been placed on administrative leave pending the results of an internal investigation. Sachdeva sits on the Board of Trustees of Cardinal Stritch University and her husband, Ramesh C. Sachdeva, is a prominent pediatrician in the area.

Read the story here, here and here.

3 comments:

Anonymous said...

This is out of date. The total is now up to $20 million.

Anonymous said...

try $31 million......what a greedy woman!

Chris Marquet said...

See our more recent postings on this story. It stands at $31 million and topped our 2009 Report on Embezzlement list.