Ex-Controller Sent to Prison For Embezzling Nearly $300K
SAN ANTONIO—Three years and one month in federal prison was the penalty for the former controller of a printing company convicted of embezzling nearly $300,000 from her employer, the San Antonio Express-News reported.
Monica Richardson, 39, was declined probation by U.S. District Judge Orlando Garcia, who noted that The Watermark Group—the firm Richardson stole $287,029 from—had to lay off workers due to the thefts.
Richardson began embezzling funds in 2002 by writing and cashing payroll checks made out to herself. She covered her tracks by deleting the checks from Watermark’s accounting system. She also stonewalled the IRS when it requested the company’s payroll taxes and related information.
According to Richardson’s lawyer, Daniel McCarthy, she used the money to purchase household items that she couldn’t afford otherwise.
McCarthy told the paper that the printer has obtained a $302,000 civil judgment against Richardson, and Watermark’s insurance company netted a separate judgment of nearly $55,000. She reported to prison this month, and was ordered to pay $65,531 in restitution, which was the amount Richardson stole that was not covered by insurance.
She also pleaded no contest to aggravated perjury in state court and received 10 years probation.