4/19/2012 : HALF MILLION DOLLARS EMBEZZLED TO FINANCE ONLINE GAMBLING HABIT (Update)
Accountant to enter a guilty plea…but it's too late to save the CEO
Our readers will recall a report last month in which the chief executive officer of the South Carolina Hospitality Association committed suicide after discovering that his accountant had embezzled almost $500,000 of the association's funds to finance an online gambling habit.
The accountant, Rachel Duncan (41), was removed from office and an investigation has resulted in charges of wire fraud and tax evasion being laid against her.
Prosecutors reported this week that Duncan has elected to enter a guilty plea in respect of the offences, which occurred between 2006 and March 2012. The plea will be entered in a courtroom next week, according to court filings.
In terms of the plea agreement she will pay restitution to “each and every identifiable victim who may have been hurt by her scheme,” according to the plea documents, which a judge must now approve.
Duncan will appear Wednesday at the Matthew Perry Courthouse in Columbia to formally plead guilty. Her attorney, Greg Harris, said, “We are withholding all comment until next Wednesday.”