Accounting
Accountant at Indy Public Media Station Accused of Stealing $270,000
Mindi Madison allegedly presented 156 fake claims and invoices for payment at WFYI.
Sep. 12, 2022
An accounting specialist who worked for a public broadcasting company in Indianapolis is expected to be in court this week after she allegedly embezzled more than $270,000 from the station.
Mindi Madison, 52, of Indianapolis, was charged with conspiracy to commit wire fraud on Sept. 1. She is slated to make her initial appearance at the federal court in Indianapolis on Sept. 15.
According to the Southern District of Indiana’s United States Attorney’s Office, Madison had access to the accounting software at WFYI Public Media, where she began working in January 2018. As part of her job, she presented expenses, claims, invoices, and supporting documentation along with the unsigned WFYI checks to employees at WFYI who had signature authority for their approval and signature.
However, Madison is accused of presenting at least 156 fake claims and invoices for payment, according to a press release. To conceal the theft, Madison and an unnamed co-conspirator, who was neither an employee nor a vendor of WFYI, allegedly falsified invoices using versions of the co-conspirator’s name and the businesses connected to her.
The press release states:
Madison tendered WFYI checks to Individual 1, and they agreed that Individual 1 would then deposit the checks into Individual 1’s bank accounts. Individual 1 then withdrew Madison’s portion in cash, and they split the illegal proceeds. Both Madison and Individual 1 used WFYI’s stolen funds for their own personal expenditures including but not limited to, rent, restaurants, groceries, fuel, and utilities. In total, Madison embezzled approximately $270,876 from WFYI before her theft was discovered.
If convicted, Madison faces a maximum penalty of 20 years in federal prison.