Former COO pleads guilty to embezzling $3.1M from 2 physician-owned practices

Nancy Martin, 77, pleaded guilty to embezzling $3.1 million from her employers, Wichita, Kan.-based Emergency Services P.A. and Mid-Kansas Wound Specialists, the Justice Department said May 26.

Ms. Martin worked as bookkeeper, business manager and COO of the practices, which are physician-owned, according to a May 27 Wichita Eagle report. From 2012 to 2017, she embezzled from her employers by fraudulently obtaining money from their banks, the Justice Department said.

She used the money to pay for personal expenses, travel and investments, and then made false accounting entries to disguise it as payments or transferred funds between entities, the department said. From 2013 to 2016, she was responsible for filing tax returns with omitted income, causing an IRS tax loss of about $670,000.

Ms. Martin is scheduled for sentencing on August 17, the department said. She faces a maximum of 30 years in prison for bank fraud and three years in prison for the false tax document charge.

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