Philadelphia

Woman Charged with Embezzling $200K from Company Where Her Husband was President

A Chester County woman was charged with embezzling almost $200,000 from her employer and using a co-worker’s stolen identity to obtain more than $100,000 in college loans for her children, federal prosecutors in Philadelphia said.

Kimberly O’Toole, 49, of Downingtown, Pa., was charged Friday by criminal information with four counts of wire fraud.

Prosecutors said O’Toole engaged in an embezzlement scheme from 2012 to 2013, when she stole approximately $194,193.39 from her employer, Miwon North America, a specialty chemical company located in Exton, Pa. O’Toole’s husband was Miwon’s president and general manager while she handled accounting and bookkeeping duties.

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In that capacity, prosecutors said O’Toole opened a fraudulent bank account in the company’s name that only she knew about and controlled. O’Toole then intercepted checks paid to Miwon by its customers, and deposited those checks into the sham bank account that she controlled, investigators said.

O’Toole then allegedly withdrew the funds she embezzled for her own personal use, including to make mortgage payments for her Downingtown home and to pay her cable bill. When Miwon officials detected her fraud, prosecutors said O’Toole tried to cover it up by accessing the email account of a co-worker to deceive company officials.

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