Ex-finance manager at Summerville business embezzled $625,000 over 6 years
A former finance manager at a Summerville manufacturing business pleaded guilty to one count of wire fraud today in connection to a long-running embezzlement scheme that netted her $625,000.
Kay Infinger Day, 49, quit Lauscha Fiber International without notice in 2011 when auditors began checking the company’s books, said assistant U.S. Attorney Rhett DeHart, who is prosecuting the case.
Day fabricated reimbursement claims between 2005 and 2011 for fake expenses such as freight, travel and office supplies in the company’s accounting system, he said.
She spent all of the embezzled funds on medical and living expenses, DeHart added.
U.S. District Court Judge David Norton accepted Day’s guilty plea, which focused on an interstate wire transfer of about $8,530 in 2010 from Lauscha to a North Carolina bank and then back to a local credit union.
She faces up to 20 years in prison, a $250,000 fine and three years in a supervised release program, Norton said. She also could be ordered to pay restitution to her former employer, which makes glass thread used in batteries, filters and other industrial applications.
A sentencing date has not been scheduled.
Check back later at postandcourier.com or see Thursday’s edition of The Post and Courier for more details.
Contact John McDermott at 937-5572.