AgQuest Account Guilty of Embezzling more then $1.7 Million

AgQuest Account Guilty of Embezzling more then $1.7 Million

Siana Marie Eiler, 48, was sentenced to 42 months in prison for embezzling $1.7 million from her employer. Eiler, who pleaded guilty to one count of wire fraud on April 15, 2016. She was sentenced on Friday, Aug. 19 before Senior U.S. District Judge Patrick J. Schiltz in U.S. District Court In Minneapolis, MN.

“Eiler systematically abused the trust of her employer to steal money more than $1.7 million,” said Assistant United States Attorney Joseph H. Thompson. “The sentence imposed by the court today demonstrates that financial crimes are taken seriously and that white collar criminals are subject to significant consequences for their illegal acts.”

According to the defendant’s guilty plea and documents filed in court, Eiler was the Director of Accounting at AgQuest Financial Services, Inc., a financial services company based in Morgan, MN., which offers loans and insurance to farmers and other agricultural producers. From 2007 through November 2015, Eiler used her position to funnel money from AgQuest to her own personal bank accounts.

According to the defendant’s guilty plea. Eiler stole company checks and wrote them out to herself, using the signature stamps of the company’s executives. She hid the theft by creating false entries in AgQuest’s ledger to disguise the payments as payments to AgQuest customers. In total, Eiler wrote more than 250 checks to herself, which totaled more than $1.7 million. She gambled away almost all of the stolen money.