Rhonda Rochelle Canidate, a 48-year-old accounting specialist from Greensboro, North Carolina, seems to have missed the memo that “cooking the books” is frowned upon in the accounting world. Canidate recently pleaded guilty to wire fraud and money laundering charges for a scheme that would make even the most seasoned embezzler blush.
Apparently, Canidate decided her employer, Henry Molded Products Company in Lebanon, Pennsylvania, had a bit too much money lying around. So, between 2021 and 2022, she took it upon herself to “redistribute” some of those funds – a cool $532,050 to be exact – into her own accounts.
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Her method? With the finesse of a seasoned hacker (not really), Canidate manipulated the company’s payroll software to issue payments to “former employees.” The catch? Those former employees were actually Canidate herself, cleverly using accounts she controlled in their names.
This Robin Hood-esque plan (minus the “giving to the poor” part) not only left Henry Molded with significantly lighter pockets but also saddled the unwitting former employees with unexpected tax burdens. Oops!
Canidate now faces the music (and potentially some jail time) for her creative accounting practices. She has agreed to pay back the embezzled funds, though we suspect she won’t be getting a glowing letter of recommendation from her former employer anytime soon.
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The IRS, never one to miss a financial discrepancy, investigated the case, and Assistant United States Attorney David C. Williams is handling the prosecution. It seems Canidate’s accounting career may be taking an extended (and involuntary) sabbatical.
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