52-year old Joanne Osmolik was Vice President for Human Resources at a Shelton at the time of the $1.77million embezzlement scheme. U.S. Attorney spokesman Tom Carson says the woman has been sentenced to four years in jail.
Osmolik and then-CEO Kevin Coleman used corporate funds to pay personal expenses.
Osmolik has agreed to forfeit three homes in Vermont, six motorcycles, four snow mobiles, an all-terrain vehicle, jewelry and appliances, vehicle trailers and home furnishing items. She has also been ordered to pay restitution and compensation to the company for legal fees and other costs it incurred as a result of the crime.
In sentencing Osmolik above sentencing guidelines, Judge Underhill noted the extraordinary impact of the scheme on Latex International. Current Chief Executive Officer of Latex International stated that financial constraints due to the theft has directly caused 43 employees to lose their jobs.