Wal-Mart (WMT) and Best Buy (BBY) recipients of embezzled NASA funds
We'd all love to refurnish our homes for free, and one lady who recently worked for NASA knows that dream all to well. Elizabeth Osborne -- former employee of the National Aeronautics and Space Administration -- used her employer-supplied bank card to set herself up with a plethora of goods from Wal-Mart Stores, Inc. (NYSE: WMT), Best Buy Co. (NYSE: BBY) and other retailers, instead of providing living quarter expenses for the families of astronauts and visiting dignitaries.
Osborne worked for NASA for 31 years, and pleaded guilty last week to embezzling more than $157,000 from the space agency to buy goods for herself instead of for astronauts' families. Osborne would buy items from various retailers for her own personal use and would then falsify records to cover her tracks -- but the game was up when NASA officials found more than 400 fraudulent purchases from 2001 to 2005. Apparently, Osborne's favorite retailers to use embezzled funds at during those years included Lowes Co. Inc. (NYSE: LOW), Wal-Mart, Best Buy and Sears Holdings Corp. (NYSE: SHLD). At Wal-Mart alone, she shopped 157 times during that time period for gift cards and other merchandise totaling $51,000.
Products at other retailers varied from air conditioner units to beds to artwork to booking hotel rooms for family and friends. As such, Osborne faces 10 years in prison and a fine of up to $250,000 in addition to paying back NASA for the items she fraudulently charged. Perhaps she can give back all that merchandise and really make U.S. astronauts comfy and warm? Nah, thought not.
Osborne worked for NASA for 31 years, and pleaded guilty last week to embezzling more than $157,000 from the space agency to buy goods for herself instead of for astronauts' families. Osborne would buy items from various retailers for her own personal use and would then falsify records to cover her tracks -- but the game was up when NASA officials found more than 400 fraudulent purchases from 2001 to 2005. Apparently, Osborne's favorite retailers to use embezzled funds at during those years included Lowes Co. Inc. (NYSE: LOW), Wal-Mart, Best Buy and Sears Holdings Corp. (NYSE: SHLD). At Wal-Mart alone, she shopped 157 times during that time period for gift cards and other merchandise totaling $51,000.
Products at other retailers varied from air conditioner units to beds to artwork to booking hotel rooms for family and friends. As such, Osborne faces 10 years in prison and a fine of up to $250,000 in addition to paying back NASA for the items she fraudulently charged. Perhaps she can give back all that merchandise and really make U.S. astronauts comfy and warm? Nah, thought not.











Reader Comments (Page 1 of 1)
8-20-2007 @ 11:12PM
Billy said...
I suggest part of her sentence be cleaning bathrooms and especially men's urinals. This might be good for the other elite that embezzle and manipulate markets.
8-21-2007 @ 2:06AM
Joe said...
Her supervisor & Employer should be held responsible for this theft and stores should verify large purchases..... Wal.mart does keep records?
8-21-2007 @ 6:34PM
roudy11z said...
How about letting all responsibe clean dirty bathrooms all day everyday while they are in jail. This might humble them just a little.
8-21-2007 @ 8:22PM
Diane Bohnr said...
Doesn't NASA have someone in an administrative capacity that goes over credit card charges? This woman could've been caught a lot sooner and NASA would've lost a lot less money! When a company consistently checks financial records, any suspicious expenditures would be caught before huge sums of money are lost. There are too many people who are dishonest and feel that because of the position they hold that they will not be questioned. When credit cards are used, statements too arrive and they should be checked and if they seem legit, well when the expenditures are qualified by the card user, check the receiver to see if in fact, they have received the goods or not. Checks and Balances folks! Check and double check...cover your backside and if someone is offended, they'll get over it OR, they will be caught.