Beginning in April 2010, Saake, a resident of St. Louis, used her position as the controller for a real estate company based in Creve Couer, Missouri to defraud her employer on multiple occasions over the course of seven years. The investigation revealed that Saake created a fraudulent bank account and began diverting employer funds using ACH transactions to the fraudulent account. Saake attempted to hide these fraudulent transactions from her employer by marking them “confidential” to prevent other personnel in the accounting department from discovering the transactions.
Saake used the proceeds from these fraudulent transactions to make home improvements, pay for her children’s education, make vehicle lease payments, to purchase clothing and accessories, and to pay for assorted living expenses. In addition, Saake used some of her criminal proceeds to purchase equity interests in investments that paid out more than $160,000 in dividends and distributions.
“Today’s sentencing is a reminder that financial crimes are not victimless crimes,” said Trevor Fenwick, Special Agent in Charge of the U.S. Secret Service St. Louis Field Office. “The defendant victimized her employer for her own personal gain. The Secret Service will continue to investigate and pursue prosecution of those who engage in financial fraud.”
In addition to serving 46 months in prison, U.S. District Court Judge Catherine D. Perry ordered Saake to pay $1,323,671.05 in restitution.
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-- United States Secret Service