Employees who are tasked with managing company finances may carry a great deal of responsibility. Should inaccuracies or discrepancies appear in financial records, a company may be left in search of someone to blame and those who hold financial officer positions might be first on the list of parties to question. A former chief financial officer at a company in Wisconsin is facing money laundering and fraud charges following a recent investigation.
While few details were provided regarding how officials came to suspect the presence of wrongdoing, investigators claim the woman began embezzling money back in 2014 and continued these actions for just over three years. She stands accused of using her position to transfer funds from company accounts into a separate account. Officials claim that she proceeded to use these funds for personal purchases, but no further information was provided as to the nature of these purchases or the amount allegedly stolen.
According to reports, officials claim that the woman would alter company financial records to conceal transactions after transferring funds. Following an investigation into the incident, the woman stands accused of wire fraud and money laundering. A conviction for similar charges carries serious penalties, and in this situation, the woman could be facing up to 60 years behind bars should a conviction be obtained.
Understanding one’s options
With a great deal at stake, the idea of facing money laundering and fraud charges could seem a stressful and intimidating concept. Individuals who stand accused of such offenses may have questions about their available options and the best course of action to take, and they could choose to consult with an attorney for advice in navigating the criminal justice system. An attorney in Wisconsin can evaluate the situation a client is facing, provide insight in making informed decisions about all his or her available options, and assist in preparing a strategy to seek the best outcome achievable given the circumstances.