Central MA Woman Steals $1.3 Million from Employer, Says U.S. Attorney

Friday, January 22, 2016

GoLocalWorcester News Team

A Central MA woman who worked as an office manager for a Woburn life science technology firm was charged today with embezzling over $1.3 million dollars from her employer.

Dawnmarie Prince from Fitchburg, 47, was indicted on eight counts of bank fraud and one count of aggravated identity theft said the Boston Office of the U.S. Attorney

According to the indictment, Prince worked as an office manager at a Woburn-based life science technology firm where she was responsible for handling the firm’s accounts payable. For ten years, she allegedly used her position as office manager to steal hundreds of the company’s checks, which she made payable to herself or to her son. Prince then allegedly forged her boss’s signature on the stolen checks, and deposited them into her personal bank accounts.

To conceal her criminal conduct and avoid detection, it is alleged that Prince removed copies of the negotiated checks when sent back by the bank, and she falsified entries into the bookkeeping software program to make it appear as if the stolen checks had been used to pay legitimate vendors. In total, Prince is alleged to have embezzled over $1.3 million which she spent on personal expenses.

In 2001, Prince was convicted of mail fraud for defrauding another previous employer and sentenced to three years of probation and ordered to pay restitution. Prince was employed as a claims analyst for a subsidiary company of a Boston-based health plan. Shortly after starting that job, Prince created and submitted numerous false medical provider claims to the health plan. As a result, Prince received almost $50,000 in claims checks, which she endorsed and deposited into her personal bank account.

According to the U.S. Attorney: the charge of bank fraud provides for a sentence of no greater than 30 years in prison, three years of supervised release, and a fine of $1million on each count. The charge of aggravated identity theft provides for a mandatory consecutive term of two years in prison, one year of supervised release and a fine of $250,000. Actual sentences for federal crimes are typically less than the maximum penalties. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and other statutory factors.