Female White-Collar Crime Divas-Mordern Day Thieves

Living the good life off of $42 Million Ponzi Scheme!

atruck     Only a few weeks back, I posted a company dealing in freight transactions, here we are again with a case where the fraud is far higher. What’s amazing is I see why it’s so easy to prosecute these crimes. The pattern of behavior is so predictable, once the crime is revealed all you have to do is follow the paper trail and now days it’s the digital trail.

Today we have one of those rare super divas, Shirley Sooy, 63, of Fort Smith, Ark. [I’m telling you there’s something about baby boomers and greed].

According to records, from 2003 through 2013, Ms. Sooy,  operated several companies under the umbrella of the “TransVantage Group,” an audited freight billing company, which paid common carriers and freight forwarders for its victim companies. TransVantage was obligated to pay the audited and approved freight bills to the carriers from funds provided by those companies, and the funds were supposed to be held in trust by TransVantage until paid over to the carriers. The victim companies also paid TransVantage for its purported auditing services, payments separate and apart from the carrier payment funds.

Ms. Sooy allegedly operated TransVantage as a Ponzi scheme, which resulted in more than $42 million in losses to the victim companies. Ms. Sooy commingled the funds from the victim companies – funds that were to have been paid to carriers – into two accounts and then misused those funds in various ways. They paid prior, unpaid carrier bills of particular victim companies using funds provided by other, unrelated victim companies; they funded TransVantage’s payroll obligations and they funded the obligations of various TransVantage subsidiaries. [When you start rolling in tens of millions you are truly deep into greed. Unfortunately, she will be living her golden years in prison.]

She allegedly used the money to make mortgage payment on properties in New Jersey and Palm Beach Gardens, Fla. The stolen money was also used to buy a 48-foot yacht, a $135,000 Maserati and to pay off credit card charges for herself and family members, authorities allege.

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Check-pointDecember 31st, 2016
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