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Bookkeeper to serve 3 years in prison in $5.5M embezzlement

Posted at 5:36 PM, Nov 08, 2016

INDIANAPOLIS -- An Indianapolis woman gets nearly four years in prison for wire fraud and money laundering, Call 6 Investigates has learned.

A federal judge sentenced Kristi Espiritu Tuesday morning to 46 months in prison, two years of supervised release/federal probation and she must pay full restitution to her victims in the amount of $5.5 million.

Espiritu admitted to six counts of wire fraud and money laundering in a $5.5 million embezzlement scheme.

She served as a bookkeeper with Network Storage Inc., a data storage solutions company based in Indianapolis, from 2008 to 2014.

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Court records show she had access to the company’s bank accounts and used their money to pay for shopping trips to Sak’s Fifth Avenue and Distinctive Diamonds.

Espiritu used the firm’s money to purchase jewelry, travel, handbags, electronics, furnishings, and clothing, court records show.

She reached a plea agreement back in May in which she admitted to lying to company executives and falsifying books and payroll systems.

She faced up to 20 years in prison and a $250,000 fine on the four wire fraud charges and ten years in prison and a $250,000 fine on the two money laundering charges.

Espiritu also filed for bankruptcy in June, federal records show.

Call 6 Investigates was unable to reach Espiritu’s attorney, Jeffrey Baldwin, for comment.