A federal grand jury has indicted Mercy Coffie-Joseph, a 40-year-old Landover woman, on charges of wire fraud and money laundering in connection with a scheme to embezzle over $453,000 from her employer, Systems Assessment & Research, Inc. (SAR).
According to the 10-count indictment, Coffie-Joseph was employed by SAR from May 2010 through February 15, 2013, and had the authority to make electronic payments to contractors on the company’s behalf. The indictment alleges that during this time, Coffie-Joseph stole $453,125.52 from SAR by initiating funds transfers from the company’s bank accounts to bank accounts she owned and/or controlled.
Coffie-Joseph is also accused of laundering the money, using the stolen funds to draw two cashier’s checks for $40,000 and $50,000, respectively, to purchase a house in Ghana. The indictment seeks forfeiture of the proceeds of the wire fraud, including $453,125.52 in cash, as well as property discovered at Coffie-Joseph’s home during the execution of a search warrant on April 15, 2013.
The items seized from Coffie-Joseph’s home include a video camera worth approximately $10,000, a Gucci handbag purchased for approximately $885, diamond earrings and necklace, a Movado watch, and computers. Coffie-Joseph faces a maximum sentence of 20 years in prison for each count of wire fraud and money laundering, a maximum of 10 years in prison for making a false statement on a passport application, and a mandatory two years in prison, consecutive to any other sentence imposed, for aggravated identity theft.
United States Attorney Rod J. Rosenstein praised Assistant U.S. Attorneys Thomas P. Windom and Robert K. Hur, who are prosecuting the case, and thanked the FBI and U.S. Department of State’s Diplomatic Security Service for their work in the investigation.
An indictment is not a finding of guilt, and Coffie-Joseph is presumed innocent unless and until proven guilty at some later criminal proceedings.
This case is part of efforts underway by President Obama’s Financial Fraud Enforcement Task Force to investigate and prosecute financial crimes. The task force has made great strides in facilitating increased investigation and prosecution of financial crimes, enhancing coordination and cooperation among federal, state and local authorities, and conducting outreach to the public, victims, financial institutions, and other organizations.
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Key Facts
- State: Maryland
- Category: Fraud & Financial Crimes|White Collar Crime
- Source: DOJ Press Release ↗
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