Tuesday, October 25, 2011

Former Finance Officer Of Illinois University Pleads Guilty To Embezzling More Than $850K

Susan Piros, 56, formerly of Frankfort, Illinois and currently of Rincon, Georgia, has pleaded guilty to charges she embezzled more than $850,000 from St. Xavier University where she had been employed as vice president of business and finance.  According to prosecutors, over a period of more than 10 years, from 1998 to the middle of 2009, Piros received more than $800,000 in unauthorized loans she did not repay.  Piros is also suspected of receiving nearly $1 million in reimbursements for expenses and purchases believed to be for her own benefit.  These reimbursements are apparently unaccounted for but not part of the criminal case.  As part of her plea agreement, Piros has agreed to pay restitution in the amount of $854,493.  She is expected to be sentenced to 37 to 46 months in prison upon her sentencing which is scheduled for January 13, 2012. 

Read the story here and here.

Hat tip: FraudTalk reader Joe.

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