CFO Convicted of Embezzling $1M
- Chicago jury found CFO guilty of embezzling $1 million from employer to purchase luxury goods. - Purchases included designer clothes, furniture, and other high-end items. - Verdict follows trial detailing misuse of company funds for personal expenses. patch.com
A federal jury in Chicago convicted former chief financial officer Tina Feuerstein of stealing more than $1 million from her employer. (justice.gov) Prosecutors said Feuerstein, 53, of Hanover, Pennsylvania, used a company credit card for five years to buy personal items, then hid the spending in the books. The jury returned guilty verdicts on eight wire-fraud counts on April 9, 2026, after a four-day trial in U.S. District Court in Chicago. (justice.gov) The U.S. Attorney’s Office said she deleted records in the company’s expense-reporting system to conceal more than 3,800 charges totaling over $1 million. Trial evidence also showed she falsified general-ledger entries and prepared consolidated financial statements that understated expenses. (justice.gov) The case centered on a Pennsylvania subsidiary owned by a Chicago-area company, not a theft from a public agency or bank. Federal prosecutors said management relied on the altered financial statements to make business decisions while the spending continued. (justice.gov) Court records identified the subsidiary as York Wallcoverings, where Feuerstein served in the accounting department and later as chief financial officer. An indictment said the scheme ran from about November 2016 to about February 2023 and involved about $1.09 million in company funds. (cfodive.com) The purchases ranged from luxury furniture and designer apparel to groceries, utility bills and trips for Feuerstein and her family, according to the indictment. One wire-fraud count included an $8,303 charge at Raymour & Flanigan in December 2022, and others cited charges at Coach, Michael Kors and Harley-Davidson. (cfodive.com) Prosecutors also told jurors that Feuerstein had previously embezzled more than $250,000 while working in another company’s accounting department. The Justice Department included that detail in its post-verdict account of the trial evidence. (justice.gov) Each wire-fraud count carries a statutory maximum sentence of 20 years in prison, though the eventual sentence will be set under federal rules by the judge. U.S. District Judge LaShonda A. Hunt scheduled sentencing for Aug. 26, 2026. (justice.gov)
