Friday, July 16, 2010

Former New York CFO Is Spared Jail In $222K Embezzlement Scheme

Sophia M. Canahai, 49, of Lockport, New York, was spared jail time at her sentencing today for embezzling $222,684 from the Cantalician Center for Learning where she had been employed as director of finance. Instead, Canahai was sentenced to five years supervised probation. According to reports, Canahai's father helped make full restitution to the center as required by the court. A 2008 audit revealed the thefts, resulting in an investigation that showed Canahai embezzled from the Center over a period of nearly 17 years, from January 1992 through October 2008. Canahai reportedly spent the stolen money to pay off her home loans and to support her children. At her sentencing hearing, Canahai reportedly expressed remorse. State Supreme Court Justice M. William Boller apparently spared Canahai jail time since full restitution had been made. Canahai plead guilty last April to one count of grand larceny and one count of offering a false instrument for filing.

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