Milan woman indicted on bank fraud charges
Criminal Law
A Milan woman has been indicted by a federal grand jury in Jackson on bank fraud and income tax evasion charges, according to a Friday release from David Kustoff, United States Attorney for the Western District of Tennessee.
Donna L. Hardy, 48, of Milan, was charged with 12 counts of bank fraud and five counts of income tax evasion in a sealed indictment returned on Tuesday.
She made her initial court appearance on Wednesday, the release said.
According to the indictment, Hardy was employed by The Dedmon Company as a bookkeeper until it merged with Milan Box Corp. in March of 2002.
Hardy then was employed by Milan Box as a plant accountant. The indictment charges that from March 25, 2002 until around December 17, 2004, Hardy devised a scheme to defraud the former Union Planter's National Bank, now called Regions Bank.
Prosecutors said Hardy did not close bank accounts that belonged to Dedmon upon the merger of the two companies as she was instructed to do.
Instead, Hardy transferred funds from Milan Box accounts into the bank accounts belonging to Dedmon that were supposed to have been closed, the indictment said.
Hardy then transferred funds from this account to her personal bank accounts. The indictment lists more than $232,000 in fraudulent transfers from Milan Box accounts to Dedmon accounts.
In addition, the indictment charges Hardy with five counts of income tax evasion for the years 2000 through 2004.
According to the indictment, Hardy did not report over $250,000 in income on her federal income tax returns filed for these years. This resulted in a tax loss to the government of over $58,000.
This investigation was conducted by the U.S. Secret Service and IRS Criminal Investigation.
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