Branson Condo Manager Admits Embezzling $311,000

Posted: Mar 17, 2014 6:01 PM by The Associated Press
Updated: Mar 18, 2014 3:05 PM

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SPRINGFIELD (AP) - The former financial manager of a Branson condominium complex has admitted embezzling $311,000 from the owners' association.

The U.S. Attorney's office says 35-year-old Sarah Underwood, of Galena, pleaded guilty in federal court Monday to wire fraud, money laundering and failing to file a tax return.

Underwood handled bookkeeping and financial affairs at the Fall Creek condominiums from 2007 until she was fired in September 2012, after the thefts were discovered.

Prosecutors said Underwood admitted writing about $311,000 worth of checks on the condo association's accounts and using the money on personal expenses, including a $76,000 Shelby Mustang. She also bought a condo at Fall Creek, and steered $80,000 to her boyfriend's construction company without showing any work done at the complex.

A sentencing date will be scheduled later.

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