FRESNO, CA (KMJ) – Mary Williams was the Chief Executive Officer of Aeroplate Corporation, an engineering and contracting firm in Fresno.
According to court documents, from June of 2011 to last November, 70 year-old Williams embezzled over $500,000 from an employee pension plan.
One plan asset was real estate appraised at over $900,000 in value.
According to the plea agreement, Williams and the company used the properties to raise money for the company, but the company was unable to repay its loans, and the properties were foreclosed on.
The case is the product of an investigation by the U.S. Department of Labor’s Employee Benefit Security Administration.
Williams is scheduled to be sentenced in April, She faces up to 5 years in prison and a $250,000 fine.
Click below to listen to the report by KMJ’S Liz Kern:
