Minnesota Woman Sentenced For $1.13 Million Embezzlement
Minneapolis, MN (KROC-AM News) - A Minnesota woman is headed to prison for her conviction in a $1 million embezzlement case.
The US Attorney for Minnesota says 52-year-old Monica Svobodny was working at a furniture manufacturing company in Edina when she used her managerial position in the firm to embezzle funds and convert them for her own use and benefit. According to court documents, the Eden Prairie woman would use company credit cards for unauthorized expenses that included designer clothing, spa services, and luxury hotel stays.
A news release says investigators documented more than 300 incidents in which Svobodny used company credit cards to transfer funds to herself using PayPal in order to cover personal expenses. She was also accused of editing PayPal transaction receipts and fraudulently listing some of the expenses as payments to a defunct company.
According to federal prosecutors, the total amount embezzled was more than $1.13 million over a period of seven years.
Svobodny earlier entered a guilty plea to a federal charge of wire fraud. She was sentenced Thursday to two years in prison followed by two years on supervised release.
Her conviction was the result of an investigation that was conducted by the Edina Police Department with assistance from the FBI.
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