Thursday, March 15, 2012

California Woman Sentenced For Embezzling More Than $700K From Adoption Agency

Kathaleen Prince, 62, of Oxnard, California, has been sentenced to 41 months in prison for embezzling more than $700,000 from the Inner Circle Foster Family Agency, a local adoption agency where she had been employed as a bookkeeper and accountant.   According to authorities, over a period of more than 3 years, from 2006 through 2009, Prince forged the "signature of authorized persons on checks drawn on the bank accounts of Inner Circle that were made payable to herself and to her creditors, including checks that were used to pay for Prince's personal credit card bills, cell phone bills, the mortgage for a boat that she had lived on, and a vacation in Hawaii."  She was reportedly fired from the agency in February 2009 after the thefts were discovered.  Prince had been employed by the agency since April 2002.  Prince has also been ordered to pay restitution of $708,924 back to Inner Circle. 

Read the story here and here.

Read the DOJ announcement here.

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