Controller at Fontana Metal Forging Company Pleads Guilty to Federal Charges Related to $1.5 Million Embezzlement Scheme
LOS ANGELES – A Riverside woman who was the controller at a Fontana-based metal forging company pleaded guilty this morning to federal charges stemming from her embezzlement of $1.5 million from her employer.
Jacquelin Dyer, 67, who was the controller and co-general manager at Pacific Forge, Inc., appeared this morning before United States District Judge George H. Wu and pleaded guilty to one count of mail fraud.
As the controller, Dyer was responsible for all aspects of accounting at Pacific Forge, and she was authorized to sign corporate checks for amounts up to $5,000. According to court documents, over the course of approximately 10 years, Dyer used Pacific Forge corporate checks to pay her personal bills. Dyer printed and signed corporate checks under $5,000 that she made appear would be used to pay Pacific Forge vendors, but in reality were mailed to pay her personal expenses.
Dyer pleaded guilty to a mail fraud charge related to a $4,752 check that she mailed to American Express on January 11, 2013 to pay her personal credit card bill. Dyer made false entries in the Pacific Forge books to make this check appear to be a payment to a vendor.
“Utilizing this scheme, defendant [Dyer] made approximately $1,115,526.34 worth of payments towards her personal American Express credit card between 2006 and 2016,” Dyer admitted in a plea agreement filed in United States District Court. “Defendant used approximately $160,000 of the fraudulent proceeds to make payments towards the mortgage on her personal real property.”
In total, Dyer embezzled approximately $1,525,556 of Pacific Forge funds to pay for her mortgage, personal tax payments, and vehicle repair expenses.
As part of the plea agreement, Dyer agreed to forfeit the $160,000 she used to pay for her residence.
As a result of today’s guilty plea, Dyer faces a statutory maximum sentence of 20 years in federal prison when she is sentenced by Judge Wu on January 18.
This case was investigated by the Federal Bureau of Investigation.
This case is being prosecuted by Assistant United States Attorney Bilal A. Essayli of the Riverside Branch Office.