Ex-CEO billed with embezzling $15M to fund lavish way of life

A former CEO has been charged with embezzling further than $15 million from her employer and making use of stolen source of revenue to spend for a lavish way of living, together with go back and forth, jewelry and family weddings, in keeping with federal prosecutors.

Donna Osowitt Steele, of Taylorsville, North Carolina, additionally hired stolen income to fund non-public companies run through her family members, according to a court submitting Friday through U.S. Lawyer Dena King’s trade.

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Steele is billed with only one rely of twine fraud. On the web court docket docket data in point of fact do not record an attorney for her or an afternoon for an unique court docket glance.

The group that used Steele will not be named within the court filing. However prosecutors stated it may be a subsidiary of a global company and would make carbide answers implemented in noticed blades for the woodworking trade. The company homeowners live out of the country, the submitting claims.

Steele joined the undertaking in 1999 and was once serving as its CEO when she was once fired in January 2020.

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Prosecutors claimed Steele applied corporate credit score rating enjoying playing cards, exams and twine transfers to thieve corporate price range. She allegedly charged kind of $255,000 for remains on the Plaza Lodge in New York Town, way over $500,000 for jewellery, round $200,000 for partner and kids wedding ceremony day fees and further than $100,000 for bouquets.

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Steele additionally transferred further than $350,000 in embezzled cash to a large-finish outfits and family furnishings group that she operated known as Opulence through Steele, in keeping with the court docket docket filing.