Ga. insurance firm employee accused of taking $1 million from employer

Advertisement

The former bookkeeper of a Dalton, Ga., insurance company faces federal charges of mail fraud and bank fraud for allegedly stealing $1 million from her employer for personal expenses, including trips to Disney World, New York and Washington, D.C.

Carolyn Lynn Cherry, 63, of Chatsworth, Ga., was recently arraigned and released on her own recognizance by a federal court, according to the U.S. Attorney’s Office for the Northern District of Georgia. She was indicted by a federal grand jury on the charges Jan. 12.

Cherry began working for the insurance company, identified only as “R.I.” in court documents, in March 2003, soon after the company began operations, officials said. Between May 2003 and August 2009, she allegedly forged her supervisor’s signature on company checks, totaling more than $1 million.

Cherry used the funds to pay her personal credit cards, including $510,996 to Citibank, $416,406 to Chase/Washington Mutual and $74,039 to Capital One, prosecutors said. She allegedly used those cards to pay for several trips to Disney World and Disney resorts, as well as trips to New York, Washington, D.C., and several beach and river destinations between Myrtle Beach, S.C., and Honolulu.

She also allegedly used her credit cards to buy hundreds of items from a television shopping network and allegedly wrote three company checks payable to herself, totaling $11,300, and cashed them.

The grand jury indictment includes 24 counts of mail fraud for her use of the U.S. Postal Service to pay the credit card bills, and three counts of bank fraud, in connection with cashing the forged company checks.

If convicted on all charges, Cherry faces a maximum of 50 years in prison and fines that could reach a maximum of $9 million if convicted on all counts.

Leave a Comment

Follow IFAwebnews: 
Important links and updates throughout the day via Twitter Join IFAwebnews’ Insurance News group on LinkedIn.com Become a fan of IFAwebnewss Insurance News on Facebook Feeds for all the ourinsurance news or just the lines you need. Insurance news delivered to your inbox
© 2012 New Horizon Group, Inc. :: Insurance & Financial Advisor | IFAwebnews.com :: NS 41 queries. 0.572 seconds.
Entries RSS Comments RSS