US Attorney: Woman stole from Smyrna company to pay University of Phoenix tuition

Feb 25, 2020 at 11:35 am by Voice Wire

U.S. Attorney’s Office Middle District of Tennessee

Ilaine T. Newby, 51, of Antioch, Tennessee, was sentenced Friday to 12 months and 1 day in prison for embezzling over $206,000 from a Smyrna-based company, announced U.S. Attorney Don Cochran for the Middle District of Tennessee.  

U.S. District Judge William L. Campbell Jr. also imposed six months of home confinement at the conclusion of the sentence and ordered Newby to pay $147,289 in restitution to the victim company.  Newby was charged in August 2019 and pleaded guilty in October to three counts of wire fraud.

According to Court documents, Newby was the comptroller of a company in Smyrna identified as C.A.  As such, she was responsible for the company’s financial affairs, including managing the monthly financial reports, the profit and loss statements, Quickbooks entries, accounts payable, accounts receivable, and the company bank accounts and company credit card accounts. 

From November 2014 through June 2018, Newby embezzled approximately $206,000 by using company credit cards to pay personal expenses and using the company’s bank accounts to make payments to her own personal credit cards.    Newby admitted she used the funds for personal expenditures, such as purchasing a Jeep Liberty and paying tuition to the University of Arizona. 

Newby concealed her fraud by making false entries in the company’s general ledger and providing those manipulated financial records to the business’s owner.

This case was investigated by the FBI and the Smyrna Police Department and was prosecuted by Assistant U.S. Attorneys Kathryn Booth and Stephanie N. Toussaint.



Comments

How do you steal $206,000, be demanded to repay $147,000, serve 12 months in prison, and justice be served? This might encourage more people to try this! Is there something here that I'm not seeing? And when and how will the repayment be made?
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