Former Bookkeeper For Spencer, W.va.-based Oil And Gas Company Admits To Major Embezzlement Scheme
Rosalie Seabolt stole more than $800,000 from Kimco, Inc.
CHARLESTON, W.Va. –A former bookkeeper for a Spencer-based oil and gas company who admitted embezzling more than $800,000 from her employer pleaded guilty today to a federal charge, announced United States Attorney Booth Goodwin. Rosalie J. Seabolt, 59, of Spencer, W.Va., pleaded guilty to mail fraud before United States District Judge John T. Copenhaver, Jr. in Charleston. Seabolt was employed at Kimco, Inc. and its related company, Roy G. Hildreth and Son, Inc. (“Hildreth”), for more than 25 years. During her employment at Kimco, Seabolt eventually became the company’s bookkeeper.
U.S. Attorney Booth Goodwin said, “Having nearly a million dollars wiped out of a bank account can create distress for practically any business, but it's especially significant to a small business. That's why my office has focused on investigating and prosecuting cases like these, to protect small businesses and to send a clear message that such conduct will not be tolerated in this district."
From approximately September 9, 2000 and continuing through December 24, 2012, during her employment at Kimco, Seabolt wrote numerous unauthorized checks to herself from the company’s bank account. During the scheme, Seabolt deposited and cashed these checks at her personal credit union. To prevent Kimco from discovering the unauthorized checks, Seabolt misleadingly indicated in Kimco’s books that the unauthorized checks were made to Hildreth as a business expense.
From at least 2000 through 2012, Poca Valley Bank mailed monthly bank statements to Kimco that included check images. Seabolt, who was in charge of reviewing the monthly bank statements, altered the statements by covering up the check images that revealed unauthorized checks she had written to herself. Also during the scheme, Seabolt destroyed portions of original bank statements the company had received from the bank.
On January 10, 2013, Seabolt told police that she had defrauded Kimco. In total, Seabolt took approximately $815,693.27 of monies from the company.
Seabolt faces up to 20 years in prison and a fine of up to $250,000 when she is sentenced on November 21, 2013.
The investigation was conducted by the FBI and the West Virginia State Police. Assistant United States Attorney Meredith George Thomas is in charge of the prosecution.
This case is being prosecuted as part of the United States Attorney’s Office for the Southern District of West Virginia’s Business Protection Initiative. U.S. Attorney Booth Goodwin announced the Business Protection Initiative in November 2010. Business protection is a primary initiative of the U.S. Attorney’s Office that focuses on prosecuting individuals who defraud West Virginia businesses.