stickyimage

Fraud Friday — Office Manager Embezzles Over $500,000 from Small Business Employer

June 22, 2018

Fraud Friday — Office Manager Embezzles Over $500,000 from Small Business Employer

By Bob Coleman
Editor, Fraud Friday

Sherea Darnell, 34, is convicted for stealing from the owner of Custom Eye and Laser Center in Williamsburg, Virginia.

Over a four-year period, Shereal used three credit cards to conduct personal transactions for her own benefit totaling approximately $514,000.

She also obtained access to his Wells Fargo Advisors accounts, which she used to pay the balances of the credit cards without his authority, including an account that had been established to pay for medical equipment, but which Darnell diverted into making payments on the credit cards.

Sherea used the victim’s credit cards to pay for her son’s pre-school tuition which she deducted on her 2016 tax return.

She also took over $90,000 in cash advances, transferred funds into her personal bank accounts, hired a maid service, purchased high-end clothing and airline tickets for herself and her family and made a deposits and payments on luxury vehicles.

Sherea failed to report any of these funds obtained via the credit cards on her tax returns for the years 2013-2015.

Following her resignation in August 2016, Sherea continued to use the credit cards to pay her moving expenses, obtain additional cash advances and make other purchases until the fraud was discovered.

She faces the obligatory 30 years in jail when sentenced on October 24.

Upcoming Webinars

Secret Tips You Need to Know in the New SBA 7(a) Lender Matrix, Wednesday, July 11, 2018

SBA 7(a) Gas Station and C-Store Financing, Wednesday, July 18, 2018

504 and 7(a) Debt Refinance, Wednesday, July 25, 2018

Upcoming Training

Coleman’s Certified SBA Loan Training — Summer Quarter Trainings Begins July 12, 2018

Now! You can manage your Coleman Report emails here.
Feedback welcomed at bob@colemanreport.com

1 month ago by in . You can follow any responses to this entry through the | RSS feed. You can leave a response, or trackback from your own site.