Texas Woman Accused Of Embezzling $437K In Civil Suit

Nency Garcia, believed to be 31 years old, of Aldine, Texas, has been accused in a civil suit filed by her former employer, R & B Group, Inc., of embezzling as much as $437,000 from the company. According to the lawsuit, case no. 2011-18297 and filed in Harris County District Court on March 24, 2011, Garcia was a "trusted employee" who used her position to siphon payroll tax funds for herself rather than paying the IRS. It alleges fraud, conversion, breach of fiduciary duty and violations of the Theft Liability Act. The suit also alleges that Garcia attempted to cover up the thefts by submitting fraudulent IRS 941 forms. Additional details on the case are undisclosed at this time. However, it does not appear that she has been charged criminally.

Read the story here.

Maryland Man Pleads Guilty To Embezzling Nearly $2.8 Million

Ernest Theodore Solo, 60, of Boyds, Maryland, pleaded guilty today to wire fraud charges in connection with the embezzlement of nearly $2.8 million from Chesapeake Petroleum and Supply Inc. where he had been employed for more than 40 years in the finance department, ultimately as chief financial officer. According to authorities, Solo wrote checks to himself as well as took funds the company petty cash over an 8 year period, between 2000 and 2008. He was originally charged with breach of fiduciary duty, misrepresentation of facts, two counts of unjust enrichment and three counts of fraud. The company is also seeking a restraining order against Solo. He faces up to 20 years in prison.

Read the story here and here.

Read the DOJ announcement here.

Update (8/17/10): Solo was sentenced to three years in prison followed by three years of supervised release for his conviction on wire fraud charges in this case. Solo was also ordered to pay restitution of $2,741,700.