Stacey Walters, Embezzlement, Maryland 2016

Former Accountant Gets Prison for Embezzlement Scheme at Howard University

WASHINGTON – In a shocking turn of events, Stacey Walters, a 38-year-old former accountant at Howard University, was sentenced to a year and a day in prison for her role in an embezzlement scheme that drained over $105,000 from her employer.

The scheme, which Walters carried out between December 2010 and May 2011, involved her submitting 13 forms authorizing payment to various vendors, but fraudulently listing her own bank account information on one of the forms, causing $9,388 to be transferred to her account. In addition, Walters listed bank information for another individual, Shantel Brown, on 12 other forms, causing $96,398 to be transferred to Brown's account.

Brown, 34, of Waldorf, Md., pled guilty on Feb. 22, 2016, to one count of conspiracy to commit wire fraud and one count of wire fraud. She was sentenced on Nov. 1, 2016, to a year and a day of incarceration, to be followed by three years of supervised release. She was also ordered to pay restitution in the amount of $128,072.

Walters, of Indian Head, Md., pled guilty in September 2016, in the U.S. District Court for the District of Columbia, to a charge of wire fraud. She was sentenced by the Honorable James E. Boasberg. Upon completion of her prison term, she will be placed on three years of supervised release. She also was ordered to pay $57,586 in restitution.

According to the government's evidence, Walters was hired at Howard University in July 2010, and her responsibilities included preparing financial reports and performing general accounting and budget functions. She was terminated from the job in October 2011.

The case was investigated by the Metropolitan Police Department and the U.S. Attorney's Office, with assistance from Assistant U.S. Attorney Teresa A. Howie, who prosecuted both cases.

Walters' prison sentence is a stark reminder of the consequences of embezzlement and the importance of holding individuals accountable for their actions. The case serves as a warning to employers and employees alike, highlighting the need for vigilance and transparency in financial dealings.

Source: https://www.justice.gov/usao-dc/pr/maryland-woman-sentenced-year-prison-embezzlement-scheme-against-her-employer