PHILADELPHIA – The grim tale of Tammy Simpson’s downfall has come to a close as the 51-year-old was sentenced by U.S. District Court Judge Wendy Beetlestone to 41 months in prison for embezzling over $3 million from Triad Metals International, also known as Metal Traders, Inc.
Simpson, who worked as the Assistant Controller for fourteen years, pleaded guilty in June 2023 to charges of wire fraud and filing false tax returns. Her scheme spanned from 2012 until her termination in October 2019. During this time, Simpson exploited her access to the company’s accounts, making electronic transfers to pay off personal credit card debts and loans.
But it wasn’t just credit cards; Simpson also misused employee credit cards for personal expenses like airfare and entertainment, which included her family and friends. She even used these funds to settle personal tax liabilities and those of others. Astonishingly, none of this was for legitimate business purposes, nor did she declare the stolen money as income on her tax returns.
“Tammy Simpson’s betrayal of trust is a stark reminder that financial corruption knows no bounds,” U.S. Attorney Jacqueline C. Romero said. “Her sentence reflects the justice system’s determination to hold accountable those who exploit their positions for personal gain.”
The FBI, IRS, and the U.S. Attorney’s Office stood united in their pursuit of Simpson, with Wayne A. Jacobs emphasizing that “the FBI will continue to combat greed-driven schemes like this.” IRS Criminal Investigation Acting Special Agent in Charge Denise Leuenberger echoed this sentiment, reinforcing the IRS’s commitment to investigating tax fraud.
The case was a collaboration between the Federal Bureau of Investigation and the Internal Revenue Service Criminal Investigation, prosecuted by Assistant United States Attorney MaryTeresa Soltis.
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Key Facts
- State: Pennsylvania
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes|Public Corruption|White Collar Crime
- Source: Official Source ↗
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