Monday, November 21, 2011

Iowa Woman Pleads Guilty To Embezzling $480K

Stacey Lynne Gross, 38, of Adel, Iowa, pleaded guilty to charges she embezzled at least $480,000 from Data Business Equipment, Inc., where she had been employed as a bookkeeper/office manager in charge of vendor payments.  According to authorities, over a period of about 4 years, from 2007 to 2011, Gross wrote at least 190 unauthorized checks from company coffers for her own benefit.  The checks went to pay for Gross' personal credit card, mortgage and to pay for furniture, jewelry and other personal expenses.  Gross also admitted to making false entries in the company’s books to conceal her embezzlement by entering the name of a real vendor as “payee” in the ledger.  Gross pleaded guilty to felony mail fraud and tax fraud charges and is scheduled to be sentenced on February 17, 2012.  As part of her plea agreement, Gross must also make restitution to Data Business Equipment, Inc.

Read the story here and here.

Hat tip: FraudTalk reader Joe.

Update (2/17/12): Gross was sentenced to 20 months in prison for embezzling what is now believed to be at least $518,000.   She was also ordered to pay full restitution. 

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