In a significant legal development, a 54-year-old woman from Gardnerville, Nevada, has been indicted on multiple charges including wire fraud, bank fraud, and aggravated identity theft. The indictment, handed down by a federal grand jury, accuses Kami Elois Power of embezzling over $1.4 million from her employer, a family-owned construction company in South Lake Tahoe, during her tenure as an office assistant. The case highlights the serious consequences of financial misconduct and the measures taken by law enforcement to combat such crimes.
Fraudulent Activities Spanning Over Three Years
The investigation revealed that between November 2019 and May 2023, Power engaged in a sophisticated scheme to siphon off substantial sums from the company's accounts. She masked over $700,000 of these illicit transactions by creating fictitious vendor profiles using real company names and fabricating entities with initials similar to her own, like "KEP Inc. Sale" and "KPI." Additionally, she misrepresented further transfers as payroll payments or reimbursements. Power also misused the company's credit card for unauthorized personal expenses and used corporate funds to settle her personal credit card debts. The stolen money was spent lavishly on property acquisitions, luxury vehicles, all-terrain vehicles (ATVs), and even a horse.
This case is the result of a collaborative effort between the Federal Bureau of Investigation and the South Lake Tahoe Police Department. Assistant U.S. Attorneys Elliot C. Wong and Whitnee Goins are prosecuting the case. If convicted, Power faces severe penalties, including up to 20 years in prison and a fine of $250,000 for each count of wire fraud, up to 30 years in prison and a fine of $1 million for each count of bank fraud, and a mandatory two-year sentence for aggravated identity theft. However, any final sentencing will be determined by the court based on statutory guidelines and the Federal Sentencing Guidelines.
From a journalistic perspective, this case underscores the importance of stringent internal controls and vigilant oversight within organizations to prevent such large-scale embezzlement. It serves as a stark reminder that trust, once breached, can lead to devastating financial and legal repercussions. This incident calls for increased awareness and proactive measures to safeguard corporate assets from potential misuse.
