The former Chief Financial Officer of a gift company in Tredyffrin Township was arrested for allegedly embezzling over $1 million from the company.
Guido la Vella, 29, was the CFO of Taylor Gifts, a company that specializes in providing direct order gifts to customers around the world.
Vella allegedly stole over $1.4 million from the company from 2009 until his resignation in 2013.
Police say a bank alerted Taylor Gifts that a large amount of money was being transferred out of the company account. The company checked and determined the money was being moved from their account into Vella’s, according to investigators.
Officials with Taylor Gifts retained a financial consulting firm to perform an audit. They also contacted police who began an investigation.
Officials say Vella was charging personal items to his credit card and then claiming reimbursement from the company as a business expense. They also say Vella issued duplicate reimbursement checks for certain expenses, pretending to void out one of the checks while still retaining the funds for himself. Vella had access to the company’s accounts and reimbursement procedures due to his position as the CFO.
Vella allegedly used the stolen money to purchase high-end cars, jewelry, season tickets to the Eagles and a meet-and-greet with the Dave Matthews Band.
Vella was arrested and charged with felony theft, forgery and other related offenses.
“The defendant abused his position of trust in the company to line his own pockets,” said Chester County District Attorney Tom Hogan. “While Americans everywhere were struggling to find jobs and make ends meet, the defendant was living the high life by stealing from his own employer. This was not a crime of need, it was a crime of simple greed.”