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Accounting specialist faces federal charges for embezzling more than $270,000 from WFYI Media

Arrest
Posted at 9:38 PM, Sep 01, 2022
and last updated 2022-09-01 21:38:56-04

INDIANAPOLIS — An Indianapolis woman is facing federal charges for embezzling more than $270,000 from WFYI Public Media in Indianapolis.

According to the United States Attoney's Office, Mindi B. Madison, 52, has been charged by information with conspiracy to commit wire fraud.

According to court documents, Madison began working as an Accounting Specialist for WFYI Public Media (“WFYI”) in January 2018.

WFYI was owned and operated by Metropolitan Indianapolis Public Media, Inc., and provided television and radio programming throughout central Indiana.

In a relase, the U.S. Attorney's Office explained, as an Accounting Specialist, Madison had access to WFYI’s accounting software and was trusted to present legitimate expenses, claims, invoices and supporting documentation along with the unsigned WFYI checks to employees at WFYI who had signature authority for their approval and signature.

Instead of presenting legitimate claims that arose out of WFYI’s legitimate business expenses for signature and payment, Madison abused her position of trust, and presented at least 156 fake claims and invoices for payment.

In an effort to conceal the theft from WFYI and their banking institutions, Madison, and a person referred to as "Individual 1" in documentation, agreed that Madison would falsify invoices using versions of Individual 1’s name and businesses connected to her.

Court records state, Madison tendered WFYI checks to Individual 1, and they agreed that Individual 1 would then deposit the checks into Individual 1’s bank accounts. Individual 1 then withdrew Madison’s portion in cash, and they split the illegal proceeds.

Both Madison and Individual 1 used WFYI’s stolen funds for their own personal expenditures including but not limited to, rent, restaurants, groceries, fuel and utilities. In total, Madison embezzled approximately $270,876 from WFYI before her theft was discovered.

If convicted, Madison faces a maximum penalty of 20 years in federal prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

Madison will make her initial appearance on September 15 at 10 a.m.