Thursday, April 1, 2010

Pennsylvania Woman Admits She Embezzled Nearly $1.5 Million

Terry I. Hershey, 39, of Chambersburg, Pennsylvania, pleaded guilty yesterday to mail fraud, admitting she embezzled nearly $1.5 million from her former employer, Custom Power Services Inc., a local manufacturer of battery-powered generators. Prosecutors alleged that over the course of 7 1/2 years, between April 2002 and September 2009, Hershey wrote at least 276 checks totalling $1,460,633.99 to herself and her creditors to pay personal expenses and enrich herself. Hershey, who was an account manager at the company, then made false entries into the company's books and records in an effort to conceal her thefts. She faces up to 20 years in prison, plus a $250,000 fine and restitution.

Read the story here and here.

Update (8/28/10): Hershey was sentenced to three years in prison for embezzling what is believed to now be more than $1.7 million. She was also ordered to pay full restitution.

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