SAN FRANCISCO – Kerry Kit Yee Tang was arrested yesterday and appeared in federal court today to face bank fraud charges stemming from fraud committed upon her former employer, announced United States Attorney Stephanie M. Hinds and Homeland Security Investigations (HSI) Special Agent in Charge Tatum King.

According to the federal indictment unsealed today, Tang, 44, of San Francisco, was employed as the controller of a San Francisco-based company that provides interior design services.  The indictment alleges that Tang made unauthorized payments to herself and to outside companies from two of the victim company’s bank accounts, embezzling a total of about $1.9 million.

The indictment alleges that from March 2019 to December 2020, Tang engaged in a scheme in which she obtained checks from her company’s bank accounts and inserted “Kerry Tang” on the payee line.  The indictment describes that Tang, without authorization to do so, signed the checks with the signatures of one or more of the authorized signers.  Tang then deposited these checks into her own personal bank accounts.  The indictment alleges that in this manner Tang obtained approximately 66 unauthorized checks from her company and deposited them to her personal bank accounts.  The total amount of these deposits exceeded $1.6 million.

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