Statesville, North Carolina, US (AP) — A former CEO is accused of embezzling more than $15 million from his employer and using money stolen to pursue a lavish lifestyle that includes travel, jewelry and family weddings, according to federal prosecutors was accused of doing. ,
Donna Osowitz Steele, of Taylorsville, North Carolina, also used the stolen money to fund personal businesses run by her family, according to a document filed in court by US Attorney Dena King’s office on Friday.
Steele has been charged with a count of wire fraud. Files posted online do not indicate the name of your attorney or the date of your first court appearance.
The name of the company that hired the steel does not figure in the court’s file. However, prosecutors said it is a subsidiary of a foreign corporation that manufactures carbide products used for cutting saws in the wood-related sector. According to the file, the owners of the company live abroad.
Steel joined the company in 1999 and was CEO when she was fired in January 2020.
Prosecutors said Steel used company credit cards, checks and wire transfers to steal the money. She was reportedly billed for a $255,000 stay at the Plaza Hotel in New York City, jewelry worth over $500,000, family wedding expenses for over $200,000, and flowers for over $100,000.
According to court records, Steele also transferred more than $350,000 of embezzled money to a luxury clothing and furniture company called Opulence by Steele.
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