AP audit leads to guilty plea in Massachusetts embezzlement case

An accounts payable audit resulted in the arrest and subsequent guilty plea to embezzlement charges of the former controller of a Natick, Massachusetts-based video production company.

According to the Boston Business Journal, Irina Cholodenko, who also served as vice president for the unnamed firm, pled guilty to the charges of fraud against her and has been sentenced to 27 months in prison. The illegal scheme was conducted between 2005 and 2010. She has also been ordered to pay back in restitution more than $197,000 that she took from her employer.

Cholodenko was charged with fraud after an accounts payable audit revealed that she had abused her privileges by forging her boss' signature on fraudulent checks from the business' bank account. She then deposited the checks into her own personal accounts or used them to pay for her overdue credit card bills. Investigators state that the approximate total on the unauthorized payments is $197,651.

Cholodenko was initially charged with five counts of wire fraud, four counts of uttering forged securities and three counts of bank fraud. 

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