Tennessee Couple Charged With Embezzling More Than $730K From Non-Profit

Risa Woodward

Risa Lynn Woodward, 45, and her husband, James Calvin Woodward, Jr., 48, both of Hendersonville, Tennessee, have been indicted on charges they embezzled more than $730,000 from the American Association for State and Local History where Risa Woodward had been employed as finance director.  According to the indictment, the couple are accused of using the association’s credit and debit cards, forging a credit-card application and stealing the identity of the group’s executive director in order to defraud the non-profit.  The Woodward's are accused of using the misappropriated funds and organization's credit cards to buy lodging, clothing, food, appliances and other goods for their own benefit.  Risa Woodward joined the non-profit in 1991 and became finance director in 1994, resigning in August 2011.  It is unclear how long the fraud has been ongoing.  Arraignment is scheduled for April 11, 2012.

Read the story here and here.

Update (4/12/12): Risa and James Woodward both pleaded not guilty.

Update (8/7/12): The American Association for State and Local History has now sued its former accounting firm for damages for failing to recognize the alleged $800,000 Woodward embezzlement.