A 61-year-old US woman has pleaded guilty to a multi-million-dollar wire fraud and money laundering scheme that she used to embezzle over $2.7 million from her former employer, Bader Rutter & Associates.
During 2014-17, the woman misused her position as Chief Financial Officer (CFO) to make unauthorized ACH transfers from her employer’s health funding account to a personal bank account. She falsely inflated the Bader’s reported healthcare expenditures to conceal her crime. The woman also used over $250,000 of the stolen funds to purchase a beach condo in North Carolina.
The convict, who is yet to be sentenced, faces up to 30 years in jail for her crimes, as well as a total fine of up to $500,000. In addition, she will have to pay restitution of $2.7 million to Bader and its insurance company.
Source: US Department of Justice