A 31-year-old South Jordan woman was recently sentenced to prison for money laundering. U.S. district court judge Ted Stewart sentenced the woman in Salt Lake City.
Money laundering is the act of taking large amounts of money that was illegally obtained and funneling it through a legitimate source. The effect of money laundering is creating the appearance that the illegal funds came from a legitimate source.
In Utah, money laundering is a significant financial crime that can carry large penalties. Judge Stewart sentenced the 31-year-old South Jordan woman to 30 months in federal prison, 36 months of probation, and ordered her to pay over $460,000 in restitution.
Authorities say that the woman embezzled the money from Ultradent Products, Inc., her former employer. She allegedly used the funds for personal expenses.
The woman was able to embezzle the funds because she was the assistant to the director of major accounts. As part of her job involved buying promotional materials. She would by the materials with her personal credit cards and then submit reimbursement requests.
Sometime around 2010, the woman began submitting reimbursement requests for materials that she never purchased.
The woman was caught after a joint investigation was launched by the IRS Criminal Investigation unit and the U.S. Attorney’s Office in Salt Lake City.
The Salt Lake City criminal defense team at Greg Smith & Associates handles white collar crime cases such as money laundering throughout Utah. If you or a loved one is under investigation or has been charged with money laundering, call us at 801-651-1512 or contact us online.