DOJ: Former assistant controller embezzled greater than $3M from Pa.-based metallic salvage firm

PHILADELPHIA – Authorities say a girl from Monroe County stole tens of millions of {dollars} from the metallic salvage firm the place she labored as an assistant controller.

Tammy Simpson, 49, of Pocono Lake, was charged by indictment with wire fraud and submitting false tax returns, based on a information launch from the Division of Justice. The costs stem from her employment with Steel Merchants, Inc., d/b/a Triad Metals Worldwide (“Triad”), the place she labored because the assistant controller for fourteen years.

The indictment alleges that between 2012 and when she was terminated in October 2019, Simpson used her place at Triad to steal firm cash and use it to pay private bills charged to her bank cards and to make funds on private loans, the DOJ mentioned.

She did so by paying her private bank card payments and mortgage funds with digital transfers from the corporate’s enterprise checking account, based on the DOJ.

The DOJ says she additionally stored bank cards from staff who had left the corporate and used them to cost private bills together with airfare and different leisure bills for her household and pals, and to pay her private tax liabilities and people of different folks for whom she ready tax returns. None of those funds or transfers have been for legit enterprise bills of her employer, the DOJ mentioned.

The indictment additional alleges that Simpson did not report the cash stolen from the corporate as earnings on her tax returns for tax years 2015 by way of 2018.

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The indictment seeks forfeiture of $3,199,192.68, which represents the entire sum of money Simpson allegedly embezzled from her now former employer.

If convicted, Simpson faces a most doable sentence of 172 years in jail, three years of supervised launch, a $2.4 million nice and a $1200 particular evaluation.