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Chief Financial Officer, Wayne Resident Admits Scheme to Embezzle $3.7M

By rlsmetro on
Wayne

A Wayne woman admitted her role in a scheme to embezzle over $3.7 million from her employer while she was the company’s chief financial officer and director of operations, U.S. Attorney Philip R. Sellinger announced.

Federal official said Amy Aldi, 50, of Wayne, New Jersey, pleaded guilty before U.S. District Judge John Michael Vazquez to an information charging her with wire fraud.

According to documents filed in the case and statements made in court:

From January 2018 through December 2020, Aldi abused her position as chief financial officer and director of operations for a New Jersey-based company to embezzle millions of dollars by withdrawing cash from the company’s operating account and then using the cash for her own personal benefit.

Aldi, without authorization, made over 200 cash withdrawals, in amounts ranging from $5,000 to $25,000 per withdrawal, totaling more than $3.7 million.

Aldi concealed the theft by falsifying company accounting and financial records, including making false journal entries and altering bank statements issued to the company for the company’s operating account.

The wire fraud charge carries a maximum penalty of 20 years in prison and a fine of $250,000 fine or twice the gross gain or loss from offense, whichever is greatest. Sentencing is scheduled for Jan. 10, 2023.

U.S. Attorney Sellinger credited special agents of the FBI, under the direction of Special Agent in Charge James E. Dennehy in Newark, with the investigation leading to today’s guilty plea.