SCRANTON, LACKAWANNA COUNTY (WBRE/WYOU) — Officials are charging a woman after investigators say she embezzled $2,000,000 from her former employer’s credit card.
According to U.S. Attorney Gerard M. Karam, Catherine Latoski, 52, of Exeter, was the director of accounting services for a Scranton-based for-profit educational institution.
Investigators stated beginning in November 2016, until her termination in June 2021, Latoski allegedly charged around $2,000,000 in personal expenses on corporate credit cards issued by her former employer.
Latoski spent the funds on vacations, Disney timeshares and cruises, personal utility bills and shopping expenses, her child’s college tuition, and to fund her and her family members’ personal businesses selling health and beauty products, as stated in the release.
Officials say Latoski then used her accounting position to have her former employer pay off the credit card charges, by creating false entries in the company’s books and records to conceal the expenses.
Five Disney timeshares purchased by Latoski using stolen funds and held in the names of her family members will be forfeited, according to officials.
The maximum penalty under federal law for the offense is 30 years of imprisonment, a term of supervised release following imprisonment, and a fine.