Bookkeeper’s Prison Sentence for Embezzlement

ATLANTA – In a shocking case of betrayal, Alice Sue Smith, a 63-year-old former bookkeeper, has been sentenced to three years and seven months in prison for embezzling a staggering $1.24 million from her employer, Chattanooga Coin, Inc. (CCI).

According to court documents, Smith, who served as bookkeeper and office manager at CCI from 2004 to 2018, forged the signatures of the company’s owners on approximately 1,400 checks, which she then cashed. She also created fictitious check stubs in CCI’s financial records to cover up her fraud. The embezzlement scheme continued for nearly a decade, causing significant financial harm to the company.

‘When employees take advantage of their positions of trust to steal from small, family-owned businesses, real victims suffer serious financial harm,’ said Acting U.S. Attorney Kurt R. Erskine. ‘As in this case, there are real and significant consequences for employees who are caught stealing from their employers.’

‘Smith let her greed blind her to responsibilities her company entrusted her with,’ said Chris Hacker, Special Agent in Charge of FBI Atlanta. ‘For that she will be held accountable.’

Alice Sue Smith was also ordered to pay restitution to CCI and the United States of approximately $1.48 million. She was convicted of wire fraud and filing a false tax return on February 11, 2021, after pleading guilty.

The case was investigated by the Federal Bureau of Investigation and the Internal Revenue Service Criminal Investigation, with assistance from the Rossville, Georgia Police Department. Assistant U.S. Attorneys Michael Qin and Russell Phillips prosecuted this case.

For further information, please contact the U.S. Attorney’s Public Affairs Office at USAGAN.PressEmails@usdoj.gov or (404) 581-6016.