A North County woman accused of stealing millions of dollars from her employer is believed to have lost a total of $42 million at local casinos, investigators told our media partner the North County Times.
When Annette Yeomans, 51, appeared in a Vista courtroom Monday she avoided cameras.
Yeomans is accused of embezzling more than $9.9 million from her employer, forcing the company to lay off employees and restructure their operations, according to sheriff's deputies.
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. The handbags averaged $2,000 a bag according to the North County Times.
Yeomans appeared in a Vista courtroom but her arraignment was postponed. Superior Court Judge Marshall Hockett raised Yeomans' bail from $6 million to $10 million and scheduled her arraignment for Tuesday, March 17.
"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."
Deputies said that the credit-card company became suspicious and alerted Quality Woodworks in early 2008.
Yeomans sold assets including her haute couture collection and house as part of a 2008 civil agreement to repay her employer, the paper reported. However, millions of dollars are still not accounted for.
A receptionist at Quality Woodworking said Friday 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."
As for Yeoman's husband, John, who worked as a cabinet maker at Quality Woodworks, he is not expected to face charges the deputy district attorney told the NCTimes. Even if he knew about the alleged theft, he cannot be charged unless he participated, according to the paper.
