Indian American executive charged with $31mn fraud

Posted By: Staff
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Washington, Jan 21: A former Indian American executive of Koss Corp is facing a six count indictment charging her with wire fraud.

Sue Sachdeva is accused of embezzling 31 million dollars from the company to use on a spending spree.

The indictment said, "Sachdeva directed employees to make numerous fraudulent entries in Koss's books and records to make it appear that the wire transfers were for legitimate business."

According to Federal prosecutors, she used the stolen money to buy expensive clothing, furs, purses shoes, jewelry, cars, statues and items for her home.

They also say she used the money to pay for plan tickets and renovations and improvement to her Mequon home.

If convicted, Sachdeva could face 120 years in prison, the loss of her home, her Mercedes Benz E350 and her vacation home along with the items seized by investigators as well as items on order.

OneIndia News

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