LOCAL BUSINESSWOMAN’S $1.8 MILLION WIRE FRAUD SCHEME EXPOSED
HOUSTON, Texas – A 54-year-old resident of Pasadena has been convicted of embezzling $1.8 million from her longtime employer, Chevron Phillips Chemical Company.
Darla Kay Beede, a former employee, entered a plea of guilty to wire fraud, announced Acting U.S. Attorney Abe Martinez. Beede admitted to using company credit cards to make purchases for her personal benefit, resulting in a significant financial loss for the company.
Beede used company credit cards, issued by Case Bank on behalf of several managers, to purchase pre-paid debit/gift cards and copper wire. To conceal her unlawful expenditures, she falsified receipts from vendors, changing the item descriptions to reflect something other than her unlawful purchases. Additionally, Beede forged expense account statements and authorization signatures to cover her tracks.
The scheme, which involved providing fictitious receipts to accounts payable at the company, resulted in a loss of $1.8 million for Chevron Phillips Chemical Company.
As a result of her guilty plea, Beede faces up to 20 years in prison as well as a possible $250,000 maximum fine. Sentencing has been set for February 6, 2018, before Chief U.S. District Judge Lee Rosenthal.
Beede was permitted to remain on bond pending the sentencing hearing. The U.S. Postal Inspection Service conducted the investigation, and Assistant U.S. Attorney Suzanne Elmilady is prosecuting the case.
Key Facts
- State: Texas
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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