Stealing small amounts, consistently, over a long period of time is apparently one way of putting off detection. Or so thought a former employee of Cedarwood Development Inc.
Forty-three year old Karin A. Goeldi served as the executive assistant to the corporation’s President, Anthony A. Petrarca. Now, however, she is being held in the Summit County Jail while details of her $250,000 signature bond are worked out.
The alleged theft of funds was discovered after an internal audit of the company showed $1.78 million unaccounted for. This large amount of money was moved over a period of 8 years, according to this report from the Beacon Journal.
Goeldi was an authorized signer on Petrarca’s accounts and seems to have written many checks directly to herself or for “cash” during this time. Although the case is still under investigation, Goeldi is currently facing a felony theft charge.
The financial crimes unit advises that more charges could follow.
Cedarwood Development Inc. is one of Akron’s largest real estate development companies. The large company has projects around the country and offices in Fort Lauderdale and Houston. With a company this size and the theft occurring over so many years, it seems the missing money could be easily overlooked.
Theft crimes are typically not this extreme, however. How you are charged and your potential sentence for a theft crime in Ohio depends on the value stolen.
For instance, because Goeldi’s alleged theft involves more than $1 million, she is facing 1st degree felony charges and a potential 10 year prison sentence. However, many shoplifting offenses that involve less than $500 result in a 1st degree misdemeanor charge and a maximum potential sentence of 6 months in jail.
If you or someone you know is facing theft charges, I can help. No matter the size of the case, I want to hear the details and discuss a potential defense strategy with you. Call me now for a free consultation.