A Central Florida woman stole $3.9 million in an embezzlement scheme and will now face the consequences.
57-year-old Colleen Kieran, of Clermont, pleaded guilty to three counts of wire fraud in connection with a long-running embezzlement scheme.
According to the plea agreement, Kieran worked for a business in Seminole County where she oversaw accounting and operations. Beginning in 2009, Kieran abused her access to the company’s financial accounts to divert customer payments to her personal accounts without authorization. Over time, the theft escalated to thousands of transfers, ultimately totaling more than $3.9 million.
Kieran used the stolen money for personal expenses, including clothing, travel, dining, entertainment, and consumer electronics.
To conceal the scheme and the growing financial loss to the company, Kieran prepared false financial statements and spreadsheets and withheld information from the company’s owners and tax preparer. As the shortfalls grew, Kieran also obtained more than $1.5 million in loans in the company’s name, without the owners’ knowledge, to mask the missing revenue and keep cash flow appearing stable.
After the fraud was uncovered and Kieran was fired, her employers discovered that she had also been intercepting the company’s incoming mail and that several years’ worth of emails from her company account had been selectively deleted.
She faces a maximum penalty of 20 years in federal prison for each count. The court ordered forfeiture money judgment of approximately $3.9 million against Kieran and ordered her to pay restitution in the same amount to the victims of her wire fraud. The United States can collect those penalties from any asset Kieran owns now or later acquires.
This Central Florida case is being investigated by the Federal Bureau of Investigation, the Longwood Police Department, and the Seminole Financial Crimes Task Force. It is being prosecuted by Assistant United States Attorney Richard Varadan. The forfeiture is being handled by Assistant United States Attorney Nicole Andrejko. U.S. Attorney Gregory W. Kehoe made the announcement.
On April 7th, the Department of Justice announced the creation of the National Fraud Enforcement Division. The Fraud Division is laser-focused on investigating and prosecuting those who commit fraud against the American people. The DOJ’s work to combat fraud supports President Donald Trump’s Task Force to Eliminate Fraud, a whole-of-government effort chaired by Vice President J.D. Vance to eliminate fraud, waste, and abuse within Federal benefit programs.
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