Monroe, N.C. Woman Is Charged With Embezzling More Than $2.3 Million From Her Employer
For Immediate Release
U.S. Attorney's Office, Western District of North Carolina
CHARLOTTE, N.C. – A federal indictment was unsealed in federal court today, charging Kristy Lawrence, 44, of Monroe, N.C., with wire fraud, for allegedly embezzling more than $2.3 million from her employer, announced Dena J. King, U.S. Attorney for the Western District of North Carolina.
According to allegations in the indictment, from 2016 to April 2022, Lawrence was employed by a small family business located in Monroe. Over the course of her employment, Lawrence allegedly worked in a purchasing and accounting function for the business and handled the company’s books and records. The indictment alleges that Lawrence embezzled millions from the company by making multiple unauthorized electronic transfers from the company’s bank account to make payments for her personal benefit, including to pay her credit cards. Lawrence allegedly covered up the fraud by using her position and access to falsify documents and make fraudulent accounting entries in the company’s books and records. Lawrence’s alleged embezzlement scheme was uncovered after the defendant was on extended leave and another employee took over her responsibilities.
Lawrence was released on bond after her initial appearance. The wire fraud charge carries a maximum sentence of 20 years in prison and a $250,000 fine.
The charges in the indictment are allegations and the defendant is presumed innocent unless and until proven guilty beyond reasonable doubt in a court of law.
In making today’s announcement, U.S. Attorney King thanked the FBI in Charlotte and the Union County Sheriff’s Office for their investigation of the case.
Assistant U.S. Attorney Daniel Ryan of the U.S. Attorney’s Office in Charlotte is prosecuting the case.
Updated August 1, 2023