The alleged spoils include crocodile handbags, Chanel purses, Rolex watches, a 2020 Tesla sedan, a Louie Vuitton teddy bear, a Cartier diamond ring, and a half-dozen gold necklaces.
SAN JOSE — Federal prosecutors have charged a former HP Inc. employee with stealing roughly $4.8 million from company credit cards — money she allegedly used to buy hundreds of designer bags, jewelry items, and a Tesla, court records show.
Shelbee Szeto was charged with wire fraud and money laundering, charges that carry up to 20 years in federal prison and a $250,000 fine. The charging records allege that she stole millions by simply making personal charges to company credit cards, and linking HP credit cards to her personal bank account with First Republic.
When first confronted, Szeto claimed to have made millions in legitimate income in less than a year, and filed false tax returns to cover her tracks, according to the charging records. “When a First Republic Bank employee questioned the source of the fraudulent funds that Szeto stole from HP, Szeto falsely represented to the employee that the deposits were legitimate business income from her work as a consultant and that she had received approximately $3.6 million in legitimate business income between approximately May 2020 and April 2021,” the charging records allege.
The scheme lasted from 2018 to last year, when it was discovered and she lost her job, prosecutors allege.
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