APPLETON, WI (WTAQ-WLUK) — The former bookkeeper at a title business who stole more than $300,000 from the company was convicted Monday.
Stacey Gersmehl, 50, pleaded no contest to one count of theft in a business sentencing.
Sentencing is scheduled for Dec. 4. While the maximum sentence would be 12 years, 6 months in the prison system, prosecutors will argue for up to five, including 2.5 years in prison. The defense will be free to argue for a lesser sentence.
Restitution of $326,775.18 was requested, court records show.
According to the criminal complaint, in December 2021, the owners of Fox Cities Title Company noticed Gersmehl paid herself an additional $500 for six pay periods. She was fired.
Further examination of the books showed money missing dating back as far as 2012, and discovered a bank account the company did not authorize or know of.
“Sgt. Thao reports between the whole time period of August 2012 and December of 2021, Ms. Gersmehl embezzled approximately $334.684.29 from FCTC,” the complaint states.
“Ms. Gersmehl claimed that she had an under the table agreement with (the owner) which was not documented in any form, that she could deposit money into the subject Associated account on a monthly basis. Ms. Gersmehl said this was a monthly bonus of $2000 per month. Ms. Gersmehl claimed that (the owner) would deny there was ever such an agreement. Ms. Gersmehl was unable to provide any reason for this agreement. Additionally, she could not explain how the monthly average amount was so significantly higher than $2000 per month,” the complaint states.
The owner told police there was no agreement as Gersmehl described, and any bonus system would have been properly documented.
