A federal jury found a Sulphur woman guilty Thursday of stealing more than $4 million from her former employer.
Elizabeth “Missy” Istre was convicted in a Lafayette courtroom of three counts of wire fraud after a four-day trial. Authorities said Istre issued over 800 fraudulent checks totaling more than $4 million from her employer’s corporate bank account from 2004 to 2014 and used the proceeds for personal expenses. She was a bookkeeper at LM Daigle Oil Distributors in Sulphur.
Istre was arrested in February 2014 and indicted in August 2016 on four counts of wire fraud. According to court documents, her indictment included a stipulation that if she is convicted, she would have to “forfeit any property which constitutes or is derived from the proceeds traceable to the offense” — including 9.4 acres of property in Sulphur, six vehicles, a diamond and gold wedding ring, and $4.49 million.
Istre was tried in February on the four wire fraud charges. At that time, she was found not guilty on one count, and a hung jury was declared on the remaining three, resulting in the trial that began on May 1.
“We respect the jury’s decision but disagree with it,” said Todd S. Clemons, Istre’s attorney. “We do not think the government proved their case this time beyond a reasonable doubt just as they did not prove it in the first trial.”
Clemons said he and his client are reviewing their options and preparing for sentencing. Istre faces up to 20 years in prison, five years of supervised release, restitution and a $250,000 fine for each count.
A sentencing date hasn’t been set.
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