Former Oil Services Company Employee Convicted for Embezzling $1.8 Million from Company

HOUSTON, October 18, 2017 - A 54-year-old resident of Pasadena has entered a plea of guilty to wire fraud, announced Acting U.S. Attorney Abe Martinez. Darla Kay Beede admitted she embezzled $1.8 million during her longtime employment with Chevron Phillips Chemical Company.

Beede was issued company credit cards via Case Bank on behalf of several managers, but used those cards for her own personal benefit. She used the company cards to purchase pre-paid debit/gift cards and copper wire. In order to mask her unlawful expenditures, she would falsify receipts from vendors, changing the item descriptions to reflect something other her unlawful purchases. Additionally, Beede would forge the expense account statements and authorization signatures in order to conceal her unlawful spending. She also provided fictitious receipts from various vendors to accounts payable at the company for spending justification. 

As a result of her scheme, the company suffered a loss of $1.8 million.  

Sentencing has been set before Chief U.S. District Judge Lee Rosenthal for Feb. 6, 2018. At that time, Beede faces up to 20 years in prison as well as a possible $250,000 maximum fine. 

She was permitted to remain on bond pending that hearing. 

The U.S. Postal Inspection Service conducted the investigation. Assistant U.S. Attorney Suzanne Elmilady is prosecuting the case.

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