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TROUT CREEK EMBEZZLEMENT SCANDAL
TROUT CREEK – In a shocking case of corporate betrayal, Tina Rae Wood, 49, a former office administrator and secretary, has admitted to embezzling over $650,000 from a Trout Creek supply company where she worked. Wood pleaded guilty to wire fraud charges before U.S. District Judge Donald W. Molloy, who set sentencing for February 25, 2022.
The government alleged in court documents that Wood was hired in 2013 by the supply company and was entrusted with depositing payments from customers. However, she used her access to the company’s accounting system to embezzle checks from one of the company’s biggest customers and deposited the money into a personal bank account she opened in Idaho. In February 2019, when the company’s owner realized something was amiss, he contacted Wood, but she refused to talk to him and cleaned out her desk the next weekend.
An investigation found 109 customer checks, totaling approximately $650,843, that Wood had deposited into her own account. Wood faces a maximum 20 years in prison, a $250,000 fine, and three years of supervised release. A plea agreement reached in the case calls for 22 other counts in an indictment to be dismissed at sentencing if the court accepts the agreement.
Under the agreement, Wood is responsible for complete restitution. The government may pursue restitution of approximately $783,393, but the final amount will be determined by the court. Assistant U.S. Attorney Timothy J. Racicot is prosecuting the case, which was investigated by the FBI.
Wood’s actions have sent shockwaves through the community, leaving many to wonder how she was able to carry out such a large-scale embezzlement scheme for so long. The case serves as a reminder of the importance of internal controls and oversight in preventing corporate theft.
Wood was released pending further proceedings. The sentencing hearing is scheduled for February 25, 2022. The Grimy Times will continue to follow this case and provide updates as more information becomes available.
Key Facts
- State: Montana
- Category: White Collar Crime|Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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