Ex-Calif. bookkeeper accused of embezzling $10M

[Bravo Zulu]

Annette Yeomans, 51, surrendered at the Vista jail on Friday and was booked for investigation of grand theft and embezzlement. She was being held Saturday 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.

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.

http://hosted.ap.org/dynamic/stories/E/EMBEZZLEMENT_ARREST?SITE=PAPIT&SECTION=NATIONAL&TEMPLATE=DEFAULT

[leftstreet]

1. Notice they never tell us what bank robbers spend their money on

But always tell us how 'foolishly' the embezzlers spend their money.

Weird.

[Liberal_in_LA]

2. She stole a million and spent it on junk. Sounds like she's a shopaholic

[AlCzervik]

3. damn, she has some high end taste in shoes.

i ahve a shoe problem muyself but i'm not even close to that.

[ConcernedCanuk]

7. yeah - I got a shoe problem too - I buy TWO pairs of sneakers at ten bucks each every YEAR

.
.
.

sneakers stink after a few months,

don't matter if they are worth 10 bucks or 100 bucks

they still get stinky . .

so

2 pair a year

20 bucks

I'm happy

[Liberal_in_LA]

4. Another article says her husband works there but wasn't involved in the crime. Wife spends beyond

her means and the husband doesn't notice? And the company doesn't notice 2 million embezzled per year?

[TahitiNut]

5. (Stupid illiterates.) It should read "Calif. ex-bookkeeper..." since she's still in California.

With unemployment so high, it's annoying to see incompetence "at work." :puke:

[JI7]

6. this reminded me of Sarah Palin

[Liberal_in_LA]

8. Update: Embezzlement lead to layoffs, spent 25K per week,

Police: $9.9 million embezzlement led to layoffs at firm

http://www.cnn.com/2009/CRIME/03/08/california.alleged.embezzlement/index.html

* Annette Yeomans accused of paying her credit card bills with company's money
* Yeomans arrested; she was Quality Woodworks' chief financial officer
* As a result of embezzlement, the company had to do layoffs, police say
* Police: Yeomans would spend $25,000 weekly, pay off balance each Monday

(CNN) -- A former official of a cabinet company that has laid off employees has been arrested on suspicion of embezzling $9.9 million from the company over seven years.
Annette Yeomans is accused of using Quality Woodworks' funds to pay her credit card bills, police say.

Annette Yeomans is accused of using Quality Woodworks' funds to pay her credit card bills, police say.

Annette Yeomans, who was chief financial officer for California-based Quality Woodworks, was arrested Wednesday after a yearlong investigation, according to the San Diego County Sheriff's Department.

Because of the embezzlement, the San Marcos, California, company was forced to lay off employees and restructure, police said.

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Authorities started investigating Yeomans, 51, after her credit card company called Quality Woodworks, questioning the use of company checks to pay her credit card bills, police said.

"A sheriff's investigation revealed that on a weekly basis, Yeomans would spend $25,000 on her credit card and then pay off the balance the following Monday with company funds," according to a sheriff's department statement.

After the credit card company called, Quality Woodworks fired Yeomans and alerted police.