A California woman charged with aggravated identity theft as well as conspiracy to commit bank fraud pleaded guilty to those charges on Nov. 17. She is one of four individuals charged in connection with the case.
Court documents show that a 47-year-old businesswoman started a kiting scheme in 2007, submitting fake customer details on checks to a payment-processing firm. When she received the advanced funds, she would cover up the debt with more fake customer data. For allegedly stealing over $4.65 million in six years, a California district court judge has sentenced the woman to federal prison.
When a corporation in California is accused of committing white collar crimes, its reputation is at risk. However, company executives can often work with prosecutors to develop nonprosecution agreements that include fines and corporate monitors. By agreeing to the terms of a nonprosecution agreement, the corporate parent company will not be required to plead guilty.
Readers may think of embezzlement as a crime that only business professionals can commit. The fact is, anyone entrusted with money that belongs to another party can be accused of embezzlement, a serious crime in California.