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Press Release

Wheeling woman admits to embezzling nearly $350,000

For Immediate Release
U.S. Attorney's Office, Northern District of West Virginia

WHEELING, WEST VIRGINIA – Cindy Shearer, of Wheeling, West Virginia, has admitted to embezzling nearly $350,000 from her previous employers, U.S. Attorney Bill Powell announced.

Shearer, 58, pled guilty to one count of “Wire Fraud” and one count of “Filing False Income Tax Return.” From April 2013 until the end of 2019, Shearer was employed as the office manager by Cane Business Forms & Systems and later reorganized as Precision Printed Products, a printing company in Triadelphia, West Virginia. 

Shearer admitted to writing checks totaling $276,892.88 from Cane Business Forms & Systems and a total of $67,672.41 from Precision Printed Products to herself, but listing the check as paid to a legitimate vendor. She would then cash or deposit the checks into her own bank account. Shearer also admitted to not claiming the embezzled money on her personal taxes, defrauding the IRS of approximately $54,509.

As a part of the plea agreement, Shearer has agreed to pay restitution to both business owners and restitution to the IRS for the amounts above. 
Shearer faces up to 20 years of incarceration and a fine of up to $250,000 for the wire fraud charge and faces up to three years and a fine of up to $250,000 for the tax charge. Under the Federal Sentencing Guidelines, the actual sentence imposed will be based upon the seriousness of the offenses and the prior criminal history, if any, of the defendants.

Assistant U.S. Attorney Jarod J. Douglas prosecuted the case on behalf of the government. The Federal Bureau of Investigation and the Internal Revenue Service investigated.

U.S. Magistrate Judge James P. Mazzone presided.

Updated September 14, 2020

Financial Fraud