Former Koss Executive Indicted
Milwaukee - The former vice president of finance for Koss Corporation is facing a 6 count indictment charging her with wire fraud. Sue Sachdeva is accused of embezzling 31 million dollars from the company to use on a spending spree.
The indictment says Sachdeva directed employees to make numerous fraudulent entries in Koss's books and records to make it appear that the wire transfers were for legitimate business.
Prosecutors believe she used the stolen money to buy expensive clothing, furs, purses shoes, jewelry, cars, statues and items for her home. They also believe she used the money to pay for plan tickets and renovations and improvement to her Mequon home.
This came to an end with American Express alerted Koss' CEO to her spending spree.
Investigators searched her home, her office and even storage units she kept in the third ward. Documents show she kept more than 400 boxes of shoes, racks of clothing, dozens of fur coats, boxes and boxes of clothes many that still had the tags on them. One item had a 20-thousand dollar price tag on it.
"This case is one of the largest embezzlement cases ever brought in this district, and demonstrates the ongoing commitment of this office and the FBI to investigate and prosecute white collar offenses, " said US Attorney James Santelle.
If convicted Sachdeva could face 120 years in prison, the loss of her home, her Mercedes Benz E350 and her vacation home along with the items seized by investigators as well as items on order.
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