Manager charged for allegedly embezzling more than $1 million

Monica Svobodny has been charged with wire fraud for allegedly embezzling more than $1 million from her employer, Sico, LLC.

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MINNEAPOLIS — An Eden Prairie, Minnesota, woman has been indicted for allegedly embezzling more than $1 million from her employer, announced U.S. Attorney Andrew M. Luger.

Monica Svobodny

According to court documents, Monica Svobodny, 51, worked as the supply chain and engineering manager at Sico, Inc., a furniture manufacturing company located in Edina, Minnesota. The company is an FDMC 300 company, ranking #140 with $55.8 million in sales.

An email to the company's marketing department, and a LinkedIn message to Svobodny, were not answered.

According to the district attorney's office, Svobodny allegedly used her position to embezzle funds and convert them to her own use and benefit.

According to court documents, Svobodny regularly used company credit cards for unauthorized personal expenses such as designer clothing, spa services, and luxury hotel stays. To cover her alleged fraud, she left unapproved credit card expenses as “pending” for accounting purposes. On more than 300 occasions, she used company cards to transfer funds to herself via PayPal to cover personal expenses. Svobodny also edited PayPal transaction receipts and fraudulently listed some of the expenses as payments to a defunct company.

In total, the attorney said that Svobodny knowingly and willfully embezzled more than $1,137,000 from Sico, Inc. over seven years.

Svobodny was charged with one count of wire fraud. She will make her initial appearance in U.S. District Court at a later date.

This case is the result of an investigation conducted by the Edina Police Department and the FBI. Assistant U.S. Attorney Chelsea A. Walcker is prosecuting the case.

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Larry Adams | Editor

Larry Adams is a Chicago-based writer and editor who writes about how things get done. A former wire service and community newspaper reporter, Larry is an award-winning writer with more than three decades of experience. In addition to writing about woodworking, he has covered science, metrology, metalworking, industrial design, quality control, imaging, Swiss and micromanufacturing . He was previously a Tabbie Award winner for his coverage of nano-based coatings technology for the automotive industry. Larry volunteers for the historic preservation group, the Kalo Foundation/Ianelli Studios, and the science-based group, Chicago Council on Science and Technology (C2ST).