Guilty Pleas Entered in $1 Million Million Embezzlement Case
Minneapolis, MN (KROC-AM News) - A California woman has admitted to federal charges connected to a $1 million Minnesota embezzlement case.
The US Attorney for Minnesota says 47-year-old Mai Houa Xiong has entered guilty pleas to wire fraud, aggravated identity theft, and tax fraud charges. According to court documents, the Fresno woman was working as a financial manager for a Minneapolis property management company when she "devised and executed" a scheme to embezzle funds from the accounts she was authorized to access for bookkeeping work.
The company provided financial services to homeowners associations in Minnesota and the stolen funds included HOA fees paid by members of those homeowner associations to cover maintenance and other expenses. Federal prosecutors allege the embezzlement of the funds began in 2015 and continued until Xiong was fired in July 2021. It was also alleged that she fraudulently collected unemployment benefits after she was fired.
Her sentencing hearing has yet to be scheduled.