The street sweeper

Sue Sachdeva Cleans Up Koss Corp. Accounts To Finance Her Shopping Spree

What happens when you swindle your company off $31 Million for a spending spree? Well, you get caught eventually. The same happened to a former executive of Koss Corp, Washington who decided to steal money from her company to fund a private shopping spree. Not only did Sue Sachdeva, the now indicted former employee embezzle funds, she involved others by directing company employees to conduct improper business practices by making different fraudulent entries into her books so that the records showed normal wire transfers to her accounts.

While she was able to cover up her fraud in the books by making them seem as money received for legitimate business, she could not hide the huge purchases of expensive clothes, jewelry and other merchandize.

The federal prosecutors believe that she has used up all of the stolen money to prep up her wardrobe and her house. She also bought expensive cars and accessories foe her home. With the money she took from the company, she made huge renovations to her otherwise modest home on Mequon.

She now faces 6 counts of wire fraud on what is being described as the biggest ever embezzlement case from wire transfers in the United States of America.

Sue Sachdeva is an Indian America who had been holding her position in Koss Corp. since 1992. The forty six years old is also accused of hiding the illegal money transfers by making employees make fraudulent entries in company books. Now the indictment that she faces is seeking a forfeiture of all the property that Sue has bought from the embezzled funds. If she is finally convicted in her case, she faces losing all the merchandize that she bought from the embezzled funds too. These contain the 2007 Mercedes Benz, art objects, an ownership interest in Princeville Ocean Resort Village on Kauai – Hawaii and many other items that she has stored in her family home and storage units that she has been maintaining in Milwaukee.

Each count of fraud that she faces today has a maximum penalty of a fine of $250,000 and a term in prison for 20 years. Since she faces six counts of fraud, she faces a maximum penalty of 120 years and $1.5 Million of fines.

Sue Sachdeva was fired from her job at Koss Corp, when the company filed a criminal complaint against her for allegedly using $4.5 Million from the company accounts to pay the debt on her American Express Card. However, when the FBI probed into the case, they realized that the embezzlement was larger than what they had been expecting. The FBI later seized about 22,000 items that she purchased from these embezzled funds.

Sue Sachdeva is right now free on a personal signature bond that cost her $50,000. Meanwhile Koss Corp went back to its books and claimed that Sachdeva had embezzled at least $31 Million from company accounts.