NASHVILLE, Tenn. – February 25, 2020 – Ilaine T. Newby, 51, of Antioch, Tennessee, was sentenced Friday to 12 months and 1 day in prison for embezzling over $206,000 from a Smyrna, Tennessee-based company, announced U.S. Attorney Don Cochran for the Middle District of Tennessee. U.S. District Judge William L. Campbell, Jr. also imposed six months of home confinement at the conclusion of the sentence and ordered Newby to pay $147,289 in restitution to the victim company. Newby was charged in August 2019 and pleaded guilty in October to three counts of wire fraud.
According to Court documents, Newby was the comptroller of a company in Smyrna, Tennessee identified as C.A. As such, she was responsible for the company’s financial affairs, including managing the monthly financial reports, the profit and loss statements, Quickbooks entries, accounts payable, accounts receivable, and the company bank accounts and company credit card accounts. From November 2014 through June 2018, Newby embezzled approximately $206,000 by using company credit cards to pay personal expenses and using the company’s bank accounts to make payments to her own personal credit cards. Newby admitted she used the funds for personal expenditures, such as purchasing a Jeep Liberty and paying tuition to the University of Arizona. Newby concealed her fraud by making false entries in the company’s general ledger and providing those manipulated financial records to the business’s owner.
This case was investigated by the FBI and the Smyrna Police Department and was prosecuted by Assistant U.S. Attorneys Kathryn Booth and Stephanie N. Toussaint.
