woman charged with taking $1M from school, regatta & business
to pay her credit cards
Wanda English Burnett, Editor
Ann Geyman, 54, of Madison, has been charged with embezzling more
than $1 million from three separate places she worked. In all
three charges, she allegedly used the money taken to pay for her
own personal credit card debt.
According to information from Timothy M. Morrison, acting United
States Attorney for the Southern District of Indiana, the charges
were filed November 29 in U.S. District Court.
One of the charges alleges that Geyman wrote 200 checks that totaled
$1,113,502.34 to various credit card companies to pay her personal
credit card debts when she was employed as treasurer of the Switzerland
County School Corporation from January 20, 2003 until May 9, 2007.
She allegedly altered bank statements and canceled checks to conceal
her action, which was discovered during an outside audit by the
Indiana State Board of Accounts in May of this year. Information
from the US Attorney notes that it is a federal crime to embezzle
funds from a government entity receiving more than $5,000 in federal
funds in one year.
In the second charge, Geyman allegedly was involved in a $24,489
mail fraud while serving as the treasurer of the Madison Regatta,
Inc. from July 7, 2000 until June 26, 2001. The Madison Regatta,
which is a not-for-profit entity organizing the annual boat race
on the Ohio River, also includes running concession stands and
ticket sales. Through her position as the treasurer, Geyman routinely
reviewed and authorized payment for invoices submitted by vendors
of the Madison Regatta. She was also authorized to issue checks
to pay invoices without approval of anyone else. The charge maintains
that Geyman prepared, signed and mailed 24 checks made payable
to credit card companies and businesses who had issued her personal
lines of credit. None of the payments that totaled $24,489.15
are said to be related to any legitimate business concerning the
Madison Regatta. The accused is then said to have hidden this
activity through false entries in the books and records, which
she had control of.
The third charge against Geyman is connected to her employment
with Value Systems (doing business as J.D. Byrider and CNAC) as
an accountant. J.D. Byrider, an automobile dealership and finance
company doing business in Madison, would make large payments to
its vendors buying automobile inventory. It is alleged that Geyman
defrauded the company of about $76,000 by issuing and mailing
22 checks from that companys bank account to the credit
card companies and businesses who had issued her personal lines
of credit. This took place between August 17, 2001 and December
1, 2002. The charge notes that none of the checks were written
for legitimate business for the company. It is alleged that Geyman
doctored the books and records of J.D. Byrider to conceal this
Geyman has agreed to plead guilty to all the charges, which include
one count of Embezzlement (from the Switzerland County School
Corporation), one count of Mail Fraud (Madison Regatta) and one
count of Mail Fraud (J.D. Byrider). She could spend up to 10 years
in prison for the embezzlement charge and be fined up to $250,000.
The Mail Fraud charges carry a prison term of up to five years
again with a fine of up to $250,000 each. The law also requires
mandatory restitution for the federal offenses with Geyman agreeing
to pay back $1,214,066.32.
According to information in the Vevay Reveille newspapers, Geyman
has agreed to forfeit her interest in all property, real and personal,
that was seized by the government concerning this case. This would
include her home at 1829 Telegraph Hill Road in Madison and a
2003 Chevy Trailblazer.