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PHILADELPHIA –United States Attorney Jennifer Arbittier Williams announced that Tammy Simpson, 49, of Pocono Lake, PA, was charged by Indictment with wire fraud and filing false tax returns. These charges stem from the defendant’s employment with Metal Traders, Inc., d/b/a Triad Metals International (“Triad”), where she worked as the Assistant Controller for fourteen years.
The Indictment alleges that between 2012 and when she was terminated in October 2019, Simpson used her position at Triad to steal company money and use it to pay personal expenses charged to her credit cards and to make payments on personal loans. She allegedly did so by paying her personal credit card bills and loan payments with electronic transfers from the company’s business checking account. The defendant is also alleged to have kept credit cards from employees who had left the company and used them to charge personal expenses including airfare and other entertainment expenses for her family and friends, and to pay her personal tax liabilities and those of other individuals for whom she prepared tax returns. None of these payments or transfers were for legitimate business expenses of her employer. The Indictment further alleges that Simpson failed to report the money stolen from the company as income on her tax returns for tax years 2015 through 2018.
The Indictment seeks forfeiture of $3,199,192.68, which represents the total amount of money Simpson allegedly embezzled from her now former employer.
“This defendant allegedly swindled almost more than three million dollars from her former employer over the better part of a decade,” said U.S. Attorney Williams. “Instead of doing the right thing and performing her job honestly as the assistant controller for this company, she took advantage of her position and chose the greedy path. Our Office will continue to work with our law enforcement partners to protect innocent individuals and businesses from being victimized by financial fraud.”
“Tammy Simpson’s company entrusted her with key accounting duties,” said Jacqueline Maguire, Special Agent in Charge of the FBI’s Philadelphia Division. “Little did they know their longtime employee would take full advantage of that trust, allegedly diverting and using millions of dollars of the business’s money as her own. The FBI will diligently investigate and hold accountable anyone engaged in such egregious financial fraud.”
“No matter how it’s earned, all income must be reported,” said IRS Criminal Investigation Special Agent in Charge Yury Kruty. “Simpson stands accused of treating Triad’s bank account as her personal bank account, supporting her lifestyle and that of her friends and family. This indictment should reassure those who play by the rules that IRS Criminal Investigation and its law enforcement partners will investigate anyone suspected of similar conduct.”
If convicted, Simpson faces a maximum possible sentence of 172 years in prison, three years of supervised release, a $2,400,000 fine and a $1200 special assessment.
The case was investigated by the Federal Bureau of Investigations and the Criminal Investigation Office of the Internal Revenue Service. It is being prosecuted by Assistant United States Attorney MaryTeresa Soltis
An indictment, information, or criminal complaint is an accusation. A defendant is presumed innocent unless and until proven guilty.
UNITED STATES ATTORNEY’S OFFICE
EASTERN DISTRICT OF PENNSYLVANIA
615 Chestnut Street, Suite 1250
Philadelphia, PA 19106
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