400 Pairs of $600 Shoes

By Eric S. Page
|  Saturday, Mar 7, 2009  |  Updated 10:29 AM PDT
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400 Pairs of $600 Shoes

Getty Images/Steve Bronstein

A North County woman is accused of stealing millions of dollars from her employee, prompting the company to layoff workers and undergo a restructuring.

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400 Pairs of $600 Shoes

Imagine being laid off from your job, only to find out that the person who handled your company's finances embezzled millions of dollars, and used the money to buy shoes.
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A North County woman is accused of stealing millions of dollars from her employer, eventually forcing the company to lay off employees and restructure their operations

Annette Yeomans, 51, surrendered to sheriff's deputies on Friday morning. She allegedly embezzled more than $9.9 million.

"Everybody we've talked to, everybody that knows about this case, is absolutely appalled at the dollar amount," said Sgt. Mark Varnau of the county sheriff's department. "Ten million dollars over seven years is a lot of money, a lot of gambling, a lot of lavish lifestyle, but not unheard of."

Yeomans was the chief financial officer at Quality Woodworks in San Marcos, and for the past seven years, investigators said, she spent $25,000 a week on her credit card. They said she paid off that amount every Monday with a company check.

Sheriff's deputies said they found 400 pairs of $600 shoes and about $620,000 in designer clothing and purses in her home.
   
Deputies said that the credit-card company became suspicious and alerted Quality Woodworks.

A receptionist at Quality Woodworking said the owners were out of town and unavailable for comment. She said she was aware of what happened.

"These partners, the people in this business, they had faith in her, they believed in what she was telling them," Varnau said. "Because she was the financial officer, she was able to cover her transfers."

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