Friday, January 21, 2011

Illinois Woman Charged With Embezzling $1.5 Million; Gambles It Away

Julie Nowaczyk, 50, of the Chicago, Illinois neighborhood of Ashburn, has been charged with embezzling some $1.5 million from ENR General Machining Co. where she had been employed as a bookkeeper. According to prosecutors, Nowaczyk's thefts spanned a four and a half year period, having been discovered last July only after the business owners hired a banker to look into why the company inexplicably was losing money. She allegedly issued herself more than 300 checks from the company which she logged as either vendor payments or petty cash, since 2006. The business was forced to make layoffs and was nearly placed into bankruptcy as a result of the embezzlement. Meanwhile, Nowaczyk was gambling the illicit proceeds away at high-end slot machines in nearby casinos in Indiana. She was confronted and has reportedly admitted to the scheme. Nowaczyk had been employed by the company for some 12 years.

Read the story here, here and here.

Hat tip: Reader Joe.

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