News and Press Releases

News and Press Releases

Payroll agent charged with embezzling $1.1 million from Land O’ Lakes

June 20, 2012

MINNEAPOLIS—Yesterday in federal court, a former payroll agent for Land O’ Lakes was charged with embezzling more than $1 million from the company. Cynthia Carol Jacobsen, age 58, of Brooklyn Park, was charged via an Information with one count of mail fraud.

Allegedly, from 2008 through May 15, 2012, Jacobsen fraudulently entered her daughter’s name into the company’s payment system as a vendor and then authorized payments to her. During that time, Jacobsen worked as an accounts payable supervisor and authorized payments to vendors for services rendered. The illegal payments were sent by mail to Jacobsen’s residence. In addition, Jacobsen allegedly concealed her actions and made misrepresentations to the company concerning its financial condition.

If convicted, Jacobsen faces a potential maximum penalty of 20 years in prison. All sentences will be determined by a federal district court judge. This case is the result of an investigation by the United States Postal Inspection Service, and the Federal Bureau of Investigation. It is being prosecuted by Assistant U.S. Attorney Christian S. Wilton.

A defendant, of course, is presumed innocent until he or she pleads guilty or is proven guilty at trial.

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