A former accountant has been sentenced to jail and must make restitution payments after embezzling hundreds of thousands of dollars from her employer.
Utah resident and 25-year-old Laurel Llewellyn Gifford used her role as a senior regional accountant at a Salt Lake City asset management company to carry out roughly 100 unauthorized transfers totaling about $472,896 that started in November 2022 and came to light in October 2023, reports ABC4.
The case began in October 2023, when an employee of an asset management company contacted the Salt Lake City Police Department after discovering suspicious financial activity involving a former employee.
The investigation began after a company reported that it had not received payment for its services. When the asset management employee looked into the missing payment, he discovered that someone had created a duplicate profile using the company’s name but had directed the money to a different bank account.
The company determined that Gifford had used her employee login credentials and IP address to carry out the transactions.
Investigators contacted the bank receiving the payments and confirmed that the account belonged to Gifford. The account showed frequent withdrawals.
Gifford entered guilty pleas to two second-degree felony counts of theft by deception, which prompted the dismissal of the remaining 66 charges under a plea deal.
The court imposed 180 days in jail with credit for 28 days already served, along with 36 months of probation.
She must also register as a white-collar offender.
A potential prison term ranging from one to 15 years was suspended pending compliance with probation terms.
Restitution calls for $200 monthly payments over 99 years plus a lump-sum payment of $1,509,579.13 due in 2127.
The case highlights how an employee with financial access exploited that position for personal gain over nearly a year.
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The post Former Accountant Faces Century of Restitution Payments After Draining $472,896 From Utah Employer appeared first on The Daily Hodl.
 A 25-year-old former accountant received a 99-year restitution order after pleading guilty to embezzling over $472,000 from her employer via unauthorized transfers.
The post Former Accountant Faces Century of Restitution Payments After Draining $472,896 From Utah Employer appeared first on The Daily Hodl. Scams, Hacks & Breaches, Employee Fraud, fraud, News, utahÂ
This articles is written by : Nermeen Nabil Khear Abdelmalak
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