PORTLAND, Maine — A Brunswick woman pleaded guilty in federal court on Monday to embezzling more than $300,000 from Coastal Enterprises Inc. in Wiscasset and failing to report that money on her tax return.
Stacey A. Backman, 41, was a fund accountant at the private, nonprofit charitable community development corporation and financial institution. From 2010 to January 2014, Backman embezzled more than $300,000 from Coastal Enterprises and failed to report the embezzled income on her federal tax returns, according to a release from U.S. Attorney Thomas E. Delahanty II.
According to court documents, Backman used unauthorized Coastal Enterprises corporate credit cards to pay for personal expenses.
Coastal Enterprises terminated Backman’s employment in January 2014 after learning of the embezzlement.
She faces up to 10 years in prison and a $250,000 fine for the federal fraud charge and up to three years in prison and a $100,000 fine on the federal tax fraud charge.
Backman will be sentenced after completion of a presentence report by the U.S. Probation Office.
The case was investigated by the U.S. Department of Health and Human Services, Office of Inspector General; the Internal Revenue Service, Criminal Investigations Division; the U.S. Department of Agriculture, Office of Inspector General; and the Wiscasset Police Department.