Cathy E. Rowan, Forged Securities Scheme, Indiana 2015

A 56-year-old Greenville, Indiana woman has been charged in a forged securities scheme that allegedly netted her nearly $400,000.

Cathy E. Rowan, who worked as a bookkeeper for Elite Heating and Air Conditioning Refrigeration in New Albany, Indiana, is accused of making, uttering and possessing forged securities between January 1, 2011, and June 1, 2015.

According to the U.S. Attorney’s Office, Rowan falsified 178 checks with an approximate value of $378,000, making them payable to herself instead of using them for legitimate business expenses.

She allegedly made false entries in Elite’s QuickBooks accounting software and deposited the falsely prepared checks into her personal bank account.

The U.S. Secret Service and the New Albany Police Department investigated the case, which demonstrates the ongoing relationship and cooperation with task force partners.

Rowan faces a maximum of 10 years in prison and a $250,000 fine if convicted. She had her initial appearance before a magistrate judge at 9 am this morning in New Albany federal court and was released on her own recognizance.

An Information is only a charge and is not evidence of guilt. A defendant is presumed innocent and is entitled to a fair trial at which the government must prove guilt beyond a reasonable doubt.

The crime occurred in New Albany, Indiana between January 1, 2011, and June 1, 2015. The defendant, Cathy E. Rowan, is currently released on her own recognizance with a maximum sentence of 10 years in prison and a $250,000 fine.

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