For using 'employers as personal piggy banks,' Alaska woman gets three years in jail

(Image Source: MGN)
By  | 

ANCHORAGE (KTUU) - An Anchorage woman will serve three years in jail, after a judge sentenced her for an embezzling scheme that netted her over $750,000 from her employer.

Raenette K. Yangson, 42, began working for Western Construction and Equipment, an Anchorage business, in 2006. She remained there for six years, during which time prosecutors say she stole hundreds of thousands of dollars.

"Soon after joining the company, Yangson began creating multiple false checks drawn on the business’ bank account which were made payable to herself or to her husband," prosecutors wrote in a news release Wednesday.

On those checks, Yangson allegedly forged business owners' signatures, and then went into the computer system of the company and edited the accounting software. She was changing the checks to appear as though they were legitimate payments made to vendors.

Prosecutors say this lasted the entire time she worked at the company, from 2006 to 2012.

Additionally, she was charged with submitting false tax returns, as obviously none of the money she embezzled was declared as income. For that, the presiding judge ordered her to pay back $206,987 in IRS restitution.

The amount of money Yangson will have to pay back to Western Construction is not yet known. Prosecutors say it will be determined at a later hearing.

The judge said her actions were calculated. The special agent who investigated the crime, Darrell Waldon, said, “IRS Criminal Investigation is committed to investigating individuals who use their employers as personal piggy banks.

"Ms. Yangson spent years enriching herself and her husband," Waldon said.

The FBI and APD assisted the IRS criminal investigators with bringing Yangson to justice.