A 45-year-old California woman was ordered to serve nine years in state prison after pleading guilty to four felony charges, including grand theft and forgery. The woman worked for Proformance Apparel for nine years before she was fired in December 2011 after an audit revealed that she had forged more than 700 company payroll checks. She also deposited money from company funds into her personal bank accounts.
The woman stole a total of almost $6 million from the San Marcos business that employed her. Authorities say that she used much of the stolen money to buy a horse ranch near Anza in Riverside County. The prosecution stated that the woman conned horse lovers by telling them that she lost her job because the company went out of business, that she herself was sick and battling cancer, and that she needed money to provide care for 100 horses. She fled California to avoid prosecution on the fraud charges and was arrested in New Mexico. She was ordered to pay restitution to the owners of the company in the amount of $5,742,599 as well as $654,646 to the California Franchise Tax Board. In a property division, that would be quite a sum to divide.
When couples get divorced, not only do they have to divide their assets, but they also have to divide their liabilities. They have to decide whether or not they are going to pay debt off completely, service it jointly or divide it where each takes a share. For example, if one spouse acquires a debt such as the one in the case above, creditors may come after both spouses for payment. That is why when filing for a divorce, it is essential that spouses be represented by divorce attorneys who can ensure that they obtain the best division of property for their clients.
Source: ABC 10 News, “Embezzler sentenced to 9 years in prison after stealing $5.7 million from San Marcos business,” Steve Fiorina, Apr. 16, 2013