Annette Yeomans, 51, surrendered and was booked for investigation of
grand theft and
embezzlement. She was being held Saturday, March 07, 2009, at the San Diego County
jail in lieu of $10 million bail.
Authorities allege that Yeomans embezzled the money from 2001 to 2007 while
she was chief financial officer for Quality Woodworks, Inc., a cabinetry
business in San Marcos. Embezzlement is a theft crime which involves the
act of permanently appropriating assets or money by a person to whom they
have been temporarily entrusted.
She spent at least $240,000 on 400 pairs of shoes, $300,000 on designer
clothing and 160 purses valued at $2,000 each, investigators allege. She
also remodeled a bedroom into a closet with the chandelier and a 32-inch
TV, they said. She would put about $25,000.00 on her credit card every
week and then pay off the balance the following Monday with company funds.
The losses went unnoticed and the company never hired an outside auditor
to check the books because she had a trusted position. An investigation
began after American Express notified the company in February 2008 that
one of its checks had been used to make a payment on Yeomans' account.
Yeomans was fired last year and agreed to turn over her assets to the
company, which has recovered about $2 million from the sale of her home,
some cars and other property.
Embezzlement occurs when an employee illegally transfers, uses or appropriates
money or property for their personal use. An accountant, manager, CEO
or any employee may be accused of this crime. Once an accusation is made,
an audit will typically be conducted, and the employer may try to withhold
the wages of the employee accused of embezzlement. If your employer has
said that they suspect you of embezzlement it is essential that you consult a
criminal defense attorney in order to explore your best options and defense immediately.