Judge Accepts Former Koss Exec's Guilty Plea
MILWAUKEE (AP) -- A federal judge has accepted a guilty plea from a former Koss Corp. executive to felony fraud in a $34 million embezzlement.
Sujata "Sue" Sachdeva signed an agreement earlier this month to plead guilty to all six felony frauds counts against her.
Sachdeva also agreed to pay an estimated $34 million restitution to Koss Corp.
The plea deal calls for at least five years in prison, although prosecutors may recommend a much longer sentence.
Sachdeva has been free on bond since she was charged in December. As part of the deal, Sachdeva's $800,000 Mequon home will not be seized, but the government will seek more than $269,000 in equity in the home as part of the restitution.
U.S. District Judge Lynn Adelman set sentencing for Oct. 22.
------
Information from: Milwaukee Journal Sentinel, http://www.jsonline.com
(Copyright 2010 by The Associated Press. All Rights Reserved.)
Next Article in Local: OSHA cites Wis. foundry for 10 alleged violations
0 COMMENTS
ADD A COMMENT