A 57-year-old Clermont woman is facing federal charges in connection with a nearly $4 million embezzlement scheme.
On Tuesday, the U.S. Attorney’s Office for the Middle District of Florida announced that Colleen Kieran has been federally indicted on six counts of wire fraud. The United States is also seeking the forfeiture of $3.9 million, which represents the “proceeds of the charged criminal conduct.”
According to the indictment, Kieran oversaw the accounting department at a business based in Seminole County. During a period of time spanning nearly 13 years, Kieran allegedly used her position to “siphon more than $3.9 million from the company’s accounts into her own personal PayPal account.”
The indictment further alleges that Kieran spent the stolen funds on clothing, travel, dining, entertainment, and consumer electronics.
Kieran allegedly obtained loans in the company’s name in an attempt to conceal the stolen money. In addition, the indictment states that she “provided false information about the company’s finances to her employers and the company’s tax preparer.”
An indictment is merely a formal charge that a defendant has committed one or more violations of federal criminal law. Every defendant is presumed innocent unless, and until, proven guilty.
If convicted, Kieran would face a maximum penalty of 20 years in federal prison on each of the six counts.
This case is being investigated by the Federal Bureau of Investigation, Longwood Police Department, and Seminole Financial Crimes Task Force. It is being prosecuted by Assistant U.S. Attorney Richard Varadan.