Jamiesfeast – U.S. Attorney Andrew M. Luger has announced the indictment of a woman from Eden Prairie for embezzling more than $1 million from her employer.
Monica Svobodny, 51, worked as the Supply Chain and Engineering Manager at Sico, Inc. This company, located in Edina, Minnesota, focuses on manufacturing furniture and home furnishings. Sadly, Svobodny misused her position to embezzle company funds for personal use, as revealed in court records.
Svobodny was found to have regularly used company credit cards for personal expenses without authorization, as court documents have revealed. These expenses included purchases of high-end clothing, spa services, and lavish hotel stays. In an attempt to hide her fraudulent activities, she would leave unapproved credit card charges as “pending” in the accounting system. Furthermore, she transferred funds to herself over 300 times through PayPal, using company cards to cover her personal expenses. To make matters worse, Svobodny manipulated PayPal transaction receipts by falsely categorizing certain expenses as payments to a fictitious company.
Svobodny embezzled a total of $1,137,000 from Sico, Inc. over a period of seven years, knowingly and intentionally.
Svobodny faces charges of wire fraud and is scheduled to appear in U.S. District Court for her initial hearing at a later date.