Why guaranteed lifetime withdrawal benefit election rates continue to rise.
By Tim McGlone
A former manager of a Virginia Beach title insurance company was sentenced Friday to 3 1/2 years in federal prison after admitting in court to stealing $200,000 from the company and trying to cover her actions.
Amanda L. Deese, 38, of Virginia Beach pleaded guilty in U.S. District Court to one count of mail fraud.
U.S. District Judge Rebecca Beach Smith allowed Deese to remain free on bond for 45 days, by which time she is to surrender to her assigned prison.
Deese was the office manager for the Virginia Beach office of Huntington Title & Escrow.
She admitted in court that between 2007 and 2010, she wrote company checks to pay for personal expenses, including her mortgage and other bills.
She also admitted that she fabricated a story to FBI agents that the company had authorized her to spend $3,500 a month for personal expenses.
Smith also ordered Deese to make restitution to the owner of the title company, which has since gone out of business.
Tim McGlone, 757-446-2343, email@example.com