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Indian-American woman executive indicted in $31 mn fraud
An Indian-American woman executive was on Thursday indicted by a federal grand jury before a US court in Wisconsin on charges of defrauding her company to the tune of a whopping $31 million.
An Indian-American woman executive was on Thursday indicted by a federal grand jury before a US court in Wisconsin on charges of defrauding her company to the tune of a whopping $31 million.
United States Attorney James Santelle announced that a grand jury sitting in Milwaukee Court returned a six-count indictment charging Sujata Sachdeva (46), who is also known as Sue Sachdeva, with six counts of wire fraud.
Sachdeva is the former Vice President of Finance, Secretary, and Principal Accounting Officer for Koss Corporation, a publicly traded company located in Milwaukee, Wisconsin. Koss is known as manufacturer of stereo headphones, speakers and related products.
"This case is one of the largest embezzlement cases ever brought in this district and demonstrates the ongoing commitment of this office and the FBI to investigate and prosecute white collar offenses," Santelle said in a statement.
If convicted, Sachdeva faces a total maximum penalty of up to 120 years in prison and fines of up to $1.5 million, plus forfeiture of the items identified in the indictment and restitution.
The indictment alleges that Sachdeva used her position at Koss to fraudulently obtain more than $31 million from
Koss, which she used to purchase personal items and pay for personal expenses.
