Ed Bedford noon, March 6
California Fugitive Arrested in New Mexico
Pictured: Booking photo of Elizabeth Sheldon-Masters, 44, from New Mexico.
Authorities in New Mexico have taken into custody a woman fugitive from California who is wanted for allegedly embezzling $5.74 million from a San Marcos business.
Elizabeth Sheldon-Masters, 44, was arrested in Albuquerque on Friday afternoon, June 22, and is being processed for extradition back to San Diego County.
Also known as Elizabeth Ann Masters, the woman is said to have worked as a financial controller for a clothing business for 9 years, where she wrote more than 700 checks averaging over $8,000 each and deposited these into her own personal bank accounts, according to Sheriff’s sergeant Mark Varnau.
Masters allegedly used some of the embezzled money to buy a horse ranch in Riverside County where she kept more than 100 horses, Sgt. Varnau stated.
Although Elizabeth Masters reportedly began the alleged thefts “within weeks of being hired” the embezzlement was not discovered until an audit of financial records by her employers, according to Sgt. Varnau.
More like this:
- Victim of $5 million embezzlement speaks to the judge — April 15, 2013
- San Marcos bookkeeper admits embezzling millions — March 7, 2013
- Hearing delayed for woman accused of embezzling more than $5 million — Jan. 17, 2013
- Dishonest Bookkeeper Goes to Prison — July 26, 2012
- Employee Allegedly Took More Than $1 Million from Solana Beach Company — Feb. 7, 2012