Bogus Payroll Checks + Bogus Illness = Real Ripoff

23 April 2013

Elizabeth Masters of San Marcos, CA was recently sentenced to nine years on four counts including grand theft for forging hundreds of payroll checks on her employer and depositing them to her personal account. What did she do with the money? She bought and maintained a large horse ranch, of course.

She also duped horse lovers by spreading the word that she had lost her job, had cancer, and needed to care for 100 horses. That was partially true-she did lose her job as company controller after an audit revealed the fraud, but she has never had cancer and the horses have never been at risk.

After her employer discovered the embeazzlement and reported it, she sold off some of the horses and was able to repay $500,000 of the amount. Apparently, she tried to avoid prosecution by going to New Mexico where she was arrested.

http://www.cbs8.com/story/21985267/woman-who-embezzled-nearly-6m-from-employer-gets-9-years-in-prison

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