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Introduction
As the pandemic hit, orders cratered at KB and Katie Brown’s print shop in Minneapolis. They knew they would need help exactly what the Paycheck Protection Program was meant to provide.
But despite trying three lenders, they never got one of the forgivable COVID-19 loans handed out from April through early August. They had to furlough their four employees and still don’t fully understand what went wrong in a process that felt Byzantine and inequitable to them.
Former CFO of Richardson Enterprises, Ltd. sentenced for embezzlement
By Lauren Reid
AUSTIN, Texas - The former CFO of Richardson Enterprises, Ltd. has been sentenced to 63 months imprisonment for her role in a close to $16 million embezzlement scheme, according to a press release from the United States Attorney’s Office.
51-year-old Tamra Maurene Villarreal (aka Tamra Creighton Villarreal) of Lakeway was also ordered to pay $15,941,452.87 in restitution to the Richardson family and $4,243,649 in restitution to the IRS. U.S. District Judge Robert Pitman, a federal judge in Austin, further ordered Villarreal to be placed on supervised release for a period of three years after completing her prison term.
A judge sentenced the chief financial officer of an Austin-based car dealership owner to five years in prison Wednesday for her role in a close to $16 million embezzlement scheme, federal prosecutors said.
Tamra Villarreal, 51, of Lakeway, will have to pay about $16 million in restitution to the Richardson family, which owns Richardson Enterprises, and $4.2 million in restitution to the U.S. Internal Revenue Service.
Richardson Enterprises has car dealerships in Arizona, New Mexico and Texas. As CFO, Villarreal compiled financial information and provided it to outside accountants.
From 2009 to 2017, Villarreal diverted money from Richardson Enterprises bank accounts to accounts belonging to herself and her husband, federal prosecutors said. She used those stolen funds, along with a corporate credit card, to pay for luxury items, hotel stays and restaurant tabs without the knowledge or permission of the Richardson family.