Imelda Marcos paid for her shoes with the blood of her people; Annette Yeomans paid for her shoes with her co-worker’s jobs.
VISTA, Calif. – A former bookkeeper embezzled $9.9 million, forcing her company to make layoffs as she bought 400 pairs of shoes that she kept in a room-sized closet decorated with a crystal chandelier and a plasma television, authorities claim.
Annette Yeomans, 51, surrendered at the Vista jail on Friday and was booked for investigation of grand theft and embezzlement. She was being held Saturday at the San Diego County jail in lieu of $10 million bail.
Authorities allege that Yeomans embezzled the money from 2001 to 2007 while she was chief financial officer for Quality Woodworks, Inc., a cabinetry business in San Marcos.
She spent at least $240,000 on 400 pairs of shoes, $300,000 on designer clothing and 160 purses valued at $2,000 each, investigators allege. She also remodeled a bedroom into a closet with the chandelier and a 32-inch TV, they said.
“On a weekly basis Yeomans would spend $25,000 on her credit card and then pay off the balance the following Monday with company funds,” said Sgt. Mark Varnau of the sheriff’s Financial Crimes Unit.
It wasn’t just shoes:
Investigators also found that Yeomans gambled heavily at local casinos and lost extensive amounts of money.
“We have witnesses who can testify to literally $3,000 to $4,000 cash in a safe in her house that she referred to as ‘gambling money,’ ” Varnau said. “Her jewelry was described as being measured in pounds.”
How did she get away with it for so long?
The losses went unnoticed and the company never hired an outside auditor to check the books because she had a trusted position, Varnau said. Meanwhile, he said, the company was forced to lay off workers and restructure operations because of the losses.
Auditors: a company’s best friend.
Yeomans worked at a cabinetry business. I assume there weren’t other women working there who would have noticed how expensive her clothes were.
H/t Prairie Pundit, who asks,
Is there a shoe channel?
Probably, but I haven’t found it yet.
IN OTHER SHOES NEWS,
Report: Shoe hurled at Ahmadinejad in Iranian city
A shoe was recently hurled at Iranian President Mahmoud Ahmadinejad while he was in the city of Urmia, an Iranian Web site has reported.
The incident in the Iranian city was an apparent imitation of a similar attack on former U.S. president George Bush in Iraq last year.
Urmia News, the Iranian site, reported that Ahmadinejad was in a car en route to an election rally when the shoe was thrown. Ahmadinejad was traveling to a local stadium where he was meant to deliver a speech ahead of upcoming presidential elections.
Waiting for the media to cover that one…