Connecticut Woman Pleads Guity To Embezzling More Than $1.5 Million

Joanne Topolski Osmolik, 51, of Newtown, Connecticut, has pleaded guilty to charges she embezzled more than $1.5 million from Latex International, where she had been employed as vice president for human resources.  According to prosecutors, Osmolik and a co-worker used corporate credit cards for personal expenditures over an unspecified period of time, then covered it up with fraudulent expense reports.  As part of her plea agreement, Osmolik must forfeit her stake in three residential properties in Vermont, six motorcycles, four snowmobiles and jewelry.  She is due to be sentenced in March 2012.  Osmolik had been employed by Latex International for six years in various HR capacities, according to her LinkedIn profile. 

Read the story here and here.

Hat tip: FraudTalk reader Joe.

Update (2/29/12): Former Latex International CEO Kevin Coleman, 51, pleaded guilty to charges he embezzlement more than $1.7 million from the company over a period of 5 years, from November 2005 through December 2010.  Coleman and Osmolik apparently colluded to fleece the company in a brazen manner.  Coleman reportedly used some of the ill-gotten gains to buy diamonds and Harley-Davidson paraphernalia.

Update (4/25/12): Osmolik, now 52, has been sentenced to 48 months in prison for embezzling what is now believed to be $1,777,791 from Latex International.

Update (7/12/12): Coleman was sentenced to nearly 6 years in prison for his role in fleecing Latex International out of $1.7 million to finance "an absurdly extravagant lifestyle."