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CALL 6: Bookkeeper to learn fate in $5.5M embezzlement

Posted at 11:47 AM, Nov 02, 2016

INDIANAPOLIS -- An Indianapolis woman will learn her fate on Election Day after she admitted to six counts of wire fraud and money laundering in a $5.5 million embezzlement scheme.

Kristi Espiritu will be sentenced in U.S. District Court at 10 a.m. on Nov. 8.

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

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 could face up to 20 years in prison and a $250,000 fine on the four wire fraud charges, and 10 years in prison and a $250,000 fine on the two money laundering charges.

However, the sentencing guideline range is 50-71 months, according to Tim Horty, spokesperson for the U.S. Attorney’s Office based on her living situation, mental health and criminal history.

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

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

As part of the plea agreement, Espiritu agreed to pay $5.5 million in restitution by the time of sentencing.

If she can’t pay the amount, federal officials will use asset forfeiture to recoup the funds.