Law enforcement officials have indicted a Chicago-area college professor on federal fraud charges. She allegedly embezzled over $650,000 from a student organization focused on improving the representation of minority pharmacists. The defendant allegedly issued checks from the group’s bank account to benefit herself and her family and withdrew cash from the organization’s checking account while servicing as Executive Director. According to the indictment, the professor also tried to cover up the embezzlement by concealing her withdrawals and creating misleading financial reports.
The embezzlement scheme lasted from 2011 to 2016. When the student organization appointed another person to replace the defendant as Executive Director, the defendant refused to give the incumbent access to the organization’s bank accounts. According to the indictment, during the embezzlement scheme, the defendant served as a professor at the Chicago State University College of Pharmacy and stole over $650,000. Prosecutors have charged her with four counts of wire fraud. Each count of wire fraud carries a penalty of up to 20 years in prison. If she is convicted, she could receive a sentence that amounts to life in prison.
Facing Federal Embezzlement Charges in Illinois
Federal embezzlement charges carry serious, life-altering penalties. State or federal prosecutors can bring embezzlement charges. Whether the federal government brings charges depends on the nature of the business and the amount of assets embezzled. Prosecutors must prove that the defendant was entrusted to manage the property that he or she allegedly stole. Typically, embezzlement occurs when an employee who has access to her employer’s bank accounts siphons money from those accounts for her personal use and gain.
Not all embezzlement charges involve such a large sum of money. Employees can be charged with embezzlement at a state level for taking small amounts of cash from their employer’s cash register. On the other hand, Federal prosecutors have charged defendants for skimming millions of dollars from their client accounts over long periods. The penalties for embezzlement depend on the fair market value of the property allegedly stolen by the defendant. The higher the value of the property, the more severe the punishment. Under Illinois law, defendants who steal from a place of worship, a school, a person age 60 or older, or from the government faces enhanced penalties.
If You are Facing Embezzlement Charges, You Need an Experienced Lawyer
Embezzlement charges are serious. If you are convicted, you not only face prison time and fines, but you will also have to live with the stigma of being convicted of embezzlement. A conviction can result in difficulty getting hired, and you may need to leave your industry altogether. When you need a lawyer, experience matters. The sooner you speak to a skilled criminal defense lawyer, the more time your lawyer will have to develop a compelling legal strategy on your behalf. Contact the criminal defense lawyers at Glasgow & Olsson today to schedule your initial consultation.