CHARLESTON, W.Va. -- A former bookkeeper admitted Wednesday in federal court to embezzling more than $800,000 from her employer over the course of 12 years.
Rosalie J. Seabolt, 59, of Spencer, pleaded guilty to mail fraud in U.S. District Court in Charleston, according to a news release from U.S. Attorney Booth Goodwin.
Seabolt was employed at Kimco Inc., an oil and gas company in Spencer, and its related company, Roy G. Hildreth and Son Inc., for more than 25 years, the release states.
Between about Sept. 9, 2000, through Dec. 24, 2012, Seabolt wrote numerous unauthorized checks to herself from the company's bank account, according to the release.
To prevent Kimco from discovering her scheme, the release states, Seabolt indicated in Kimco's books that the checks were made to Hildreth as a business expense.
When Poca Valley Bank would mail monthly bank statements to Kimco that included check images, Seabolt, who was in charge of reviewing the monthly bank statements, altered the statements by covering up the check images, the release states. Also during the scheme, Seabolt destroyed portions of original bank statements the company received.
Seabolt faces up to 20 years in prison and a fine of up to $250,000 when U.S. District Judge John Copenhaver sentences her on November 21.
"Having nearly a million dollars wiped out of a bank account can create distress for practically any business, but it's especially significant to a small business," Goodwin said in the release. "That's why my office has focused on investigating and prosecuting cases like these, to protect small businesses and to send a clear message that such conduct will not be tolerated in this district."