A CEO was sentenced to 36 months in prison after defrauding a Grand Rapids company of nearly $1.4 million.
Darci Shillington was the CEO of Hilco Technologies when she defrauded the company of $1,397,000 over four months by submitting phony invoices and pocketing the money.
She used the stolen money to purchase and furnish a luxurious home in Ada, Michigan.
When purchasing the home, Shillington forged a letter, supposedly from Hilco’s Board of Directors to make a down payment.
The fraud left the company short of cash to pay its suppliers. Hilco discovered the fraud in September 2017 and called the FBI.
“The defendant’s brazen theft of more than a million dollars of company funds over a few short months is an astonishing breach of trust Hillco Technologies placed in her,” said FBI Special Agent in Charge for the Detroit Division Timothy R. Slater.
After Shillington serves the 36 months she will have two years of supervised release and have to payback $399,386.