Security News > 2022 > March > HP finance manager went on $5m personal spending spree with company card

A now-former HP finance planning manager pleaded guilty on Wednesday to charges of wire fraud, money laundering, and filing false tax returns that follow from the misappropriation of company funds.

According to the US Justice Department, Shelbee Szeto, 30, of Fremont, California, worked at HP Inc from August 2017 through June 2021, first as an executive assistant and then as a finance planning manager.

"Between approximately April 24, 2018 and April 23, 2021, Szeto knowingly charged approximately $4.8 million dollars in payments from her HP PCards to PayPal, Square, and Stripe merchant accounts under her control and for her personal benefit," the indictment stated.

All told, Szeto is said to have cost HP $5.2m. The Justice Department said Szeto spent the funds on: a 2020 Tesla sedan; a 2021 Porsche SUV; various bags and purses from Chanel, Dior, Gucci, and Hermes; and an assortment jewelry including necklaces, rings, pendants, and wristwatches from Audemars Piguet, Bulgari, Cartier, and Rolex.

Rachael A. Robinson, Szeto's attorney, in an email to The Register said, "Ms Szeto is accepting responsibility and doing her best to make amends."

Szeto pleaded guilty to five counts: ​​two of wire fraud, two of money laundering, and one of filing a false tax return.

News URL

https://go.theregister.com/feed/www.theregister.com/2022/03/24/hp_finance_manager_expense_fraud/