Accounting Director Accused Of Embezzling From Foundation

in Theft Crimes, on

The former accounting director of a charitable foundation in North Carolina has been accused of embezzling $400,000. The embezzlement supposedly occurred at the foundation over a three year period. The 50-year-old woman charged with the theft had worked for the foundation for close to nine years.

This individual is facing charges of embezzlement, obtaining property under false pretenses, corporate malfeasance and accessing a government computer with the intent to defraud. The foundation reportedly has not yet recovered the money said to have been misappropriated.

The foundation has $59 million in assets and supports students through scholarship and academic programs. The assets would include three residence halls and an event center.

It has been claimed that employees noticed discrepancies with the foundation’s accounts this past December. Investigators apparently reported that money had first been transferred electronically to a personal account around January 2011.

It must be kept in mind that what has been reported in the newspapers at this point only concerns allegations. We will probably not know what the actual evidence is concerning these circumstances until the matter is heard in court.  In any event, corporate fraud charges are quite serious and attorneys may find themselves having to work hard in defending the woman concerning these charges.

Attorneys representing individuals in matters like this understand that no one should be assumed guilty until clear and reliable evidence is presented in court.  Cases involving embezzlement or fraud are often complex and can involve a number of legal issues.  Even if guilt was to be demonstrated, there could be a number of circumstances that if introduced could reduce the criminal penalties.

Source: Times-News, “Director of NC A&T foundation accused of theft,” May 30, 2014