Wednesday, March 15, 2006

When You'd Say "I Do" All Over Again

It is always a good thing for couples to share interests, although when that common ground involves embezzlement, it could trigger a period of separation while they serve jail terms.  The U.S. Attorney's Office for the District of Maryland's blog (here) discusses the sentencing of Ronald Stewart, who was an auditor at CitiFinancial Inc. responsible for approving expense reimbursement for the company's Canadian employees.  Stewart created records for two fictitious employees, and his wife Saratou and a friend traveled to Canada to open bank accounts into which the reimbursements would be deposited.  From Sept. 2003 to Sept. 2005, Stewart had almost $600,000 Canadian, or approximately $450,000 US, deposited into the accounts.  According to the blog, Stewart and his wife used the funds for, among other things, "the purchase of a 2005 Lincoln Navigator, valued at approximately $60,000; the purchase of a new home in Owings Mills, Maryland and furniture for that home; the renewal of their wedding vows; the purchase of property in Trinidad; and monetary gifts to their families."  How romantic to embezzle money to pay for the pledge of undying love and fidelity.  Ronald received a 27-month prison sentence, and Saratou is scheduled for sentencing on April 3.  I doubt there will be a second honeymoon at an FCI. (ph)

http://lawprofessors.typepad.com/whitecollarcrime_blog/2006/03/when_youd_say_i.html

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Tracked on Mar 21, 2006 10:33:37 AM

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