Elizabeth Jane Mulder, a woman aged 34 and the owner of a financial services firm has been pleaded guilty in the district court of Santa Ana with federal charges in relation to using fraud money of over $1.5 million in plastic surgery and vacations. The woman comes from San Juan Capistrano and is guilty of wiring fraud and subscribing to fake income tax return for failing to reveal the embezzled funds to the IRS or Internal revenue Service.
How was the Fraudulent Scheme Implemented?
According to the prosecutors, Mulder is into the business of providing tax, bookkeeping and accounting services. She has been successfully in gaining the trust of small business customers over the years and there are even some customers who have given her the flexibility of controlling their financial transactions and accounts. Mulder, as the first step of her crime, convinced some of her clients to make checks payable to Income Tax Payments with claims that the payments would completely satisfy the consumers’ outstanding tax obligations to the IRS and would also be forwarded to the said state, local or federal tax authority. These checks were then deposited by Mulder into a certain bank account that she had created by the name Income Tax Payments. Post the deposit; the funds were converted by Mulder for her personal use. What Mulder actually did was she came up with false personas or identities and made it appear as if she was making use of her clients’ funds for paying the expenditures related to their individual businesses. However, the reality was that she was simply depositing the funds of her clients’ into her personal bank account.
How was the Fraud Money Used?
The fraudulent scheme implemented by Mulder has resulted in a theft of around $1, 538, 771 from a number of businesses based in the Orange County. These businesses include Kurtz-Ahlers & Associates located in San Juan Capistrano, Andra Builders, Inc located in Costa Mesa and JAC Wines located in San Clemente. The embezzled money was used by Mulder on personal expenditures like cosmetic surgery, vacations and Laguna Beach rental home. Other expenses that were satisfied using the money gained from the fraudulent scheme include horse rentals, purchase of horse equipment and living expenses. This fraudulent activity took place in July 2009 and Mulder is due to be sentenced on 16th October. She has been sentenced for an imprisonment of 23 years along with a fine of $350, 000.
The investigations in the case started when several victims started complaining about certain concerns with their financial transactions which were being looked after by Mulder. In this case, Mulder used the trust and the reliability of her clients in getting money that she could use personally. There are several businesses that have been affected throughout San Juan Capistrano because of this fraudulent activity. However, the police department has done a commendable job in this field and has worked things out for the victims.