January 30, 2010 - Theresa Canavan Lyda, of Fairhope, Alabama, was sentenced in federal court January 29, 2010, to a term of 10 months. Said term consists of two counts of wire fraud in violation of Title 18 United States Code, §1344. Defendant was also ordered to pay restitution in the amount of $81,481.15 to Paige and Pallette. The sentence was imposed by District Court Judge Kristi K. DuBose.
Lyda was employed at Paige and Pallette in Fairhope, Alabama as the company’s bookkeeper. In this position, from July 13, 2006 through December 2008, the defendant devised a scheme to defraud Paige and Pallette by using Paige and Palette checks, credit cards, and direct debits from the company’s bank account to pay personal expenses. The defendant falsely altered accounting software to hide the illegal payments to herself causing a loss to Paige and Pallette of approximately $106,481.15.
This case was prosecuted by Assistant U.S. Attorney, Gregory A Bordenkircher with the United States Attorney’s Office for the Southern District of Alabama and was investigated by the Federal Bureau of Investigation.