STRATHAM WOMAN PLEADS GUILTY TO BANK FRAUD

CONCORD, NEW HAMPSHIRE -- Michelle Kennedy of Stratham, New Hampshire, pleaded guilty in the United States District Court today to one count of bank fraud in connection with a scheme to embezzle more than $300,000 from her employer, Multinational Resources, Inc., located in Newfields, New Hampshire. Kennedy admitted that between 2005 and 2007, she forged signatures on company checks made payable to Kennedy that totaled $343,000. The scheme permitted her to obtain money held in the custody and control of MNR’s banks through fraudulent representations. A sentencing hearing is scheduled for July 25, 2008, at the United States District Court in Concord.

Kennedy faces a statutory maximum sentence of 30 years. It is likely that Kennedy’s sentence under the United States Sentencing Guidelines will be significantly less than 30 years.

United States Attorney Colantuono stated: “Fraud by corporate employees presents a serious threat to the livelihood of small businesses and our economic well-being. Those who engage in fraud against their employers threaten the financial health of the business and of their fellow employees should the business fail. This office will continue to work with federal, state and local law enforcement agencies, and the business community, to ensure that those who violated the trust put in them by their employers are prosecuted.”

The Federal Bureau of Investigation led the investigation of this case. Assistant Attorney Don Feith prosecuted the case.