Jazzercise, a physical fitness company, have filed a case against their former finance director, Sherri O. Potts, who was stealing from the company. Sherri is charged with 50 theft related charges including forgery, fraudulent appropriation and grand theft by an employee. If convicted she could spend over 40 years behind bars.
Over the decade of her employment, Sherri embezzled over $1 million from her employer. She would siphon off funds from the petty cash account. She would ask that $13,000 be delivered every month for petty cash, when the actual petty cash usage for the company per month was around $2,000. The amount left after actual payments would be pocketed by her. She would destroy the receipts, manipulate the accounting software and delete records that would track petty cash. She also forged checks (48 per the investigation) from the personal accounts of the owners of the company to pay herself. The forged checks were for over $150,000.
She used the cash to pay her personal bills, travel, shop and above all gamble. She gambled more than $900,000 a year in slots from 2008- 2013!! Must be exercising her arms on the slots!
