A former accountant in Utah has been sentenced to jail and must make restitution payments after embezzling hundreds of thousands of dollars from her employer over a ten-month period.
Laurel Llewellyn Gifford, 25, used her position as a senior regional accountant at a Salt Lake City asset management company to carry out approximately 100 unauthorized transfers totaling $472,896, beginning in November 2022. The scheme was discovered in October 2023.
The fraud was uncovered after a company employee contacted the Salt Lake City Police Department upon discovering suspicious financial activity. During the investigation, authorities learned that a duplicate profile had been created using a company's name, with payments directed to a different bank account. Gifford had used her employee login credentials and IP address to execute the transactions, and investigators confirmed the receiving account belonged to her.
Gifford pleaded guilty to two second-degree felony counts of theft by deception. Under the plea deal, 66 additional charges were dismissed.
The court sentenced her to 180 days in jail, with credit for 28 days already served, followed by 36 months of probation. A potential prison term ranging from one to 15 years was suspended pending compliance with probation conditions. Gifford must also register as a white-collar offender.
Restitution requirements include monthly payments of $200 over 99 years, with a lump-sum payment of $1,509,579.13 due in 2127.
