Minneapolis, MN (KROC-AM News)- There was a guilty plea reached earlier this week in a case involving a massive theft from a Minnesota business. 

Read More: Manager Accused of Embezzling $1 Million from Minnesota Company  

That’s according to a news release issued on Thursday by the U.S. Attorney’s Office for Minnesota. The defendant was indicted in the embezzlement case in February. 

Court documents allege 51-year-old Monica Svobodny used her management position at Sico, Inc, an Edina-based furniture and home furnishing manufacturing company, to embezzle the company’s funds and convert the funds to use for her own benefit. 

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The Eden Prairie woman is accused of using the company credit cards to buy designer clothing, spa services, and luxury hotel stays. The federal court filing alleges she covered those credit card expenses by marking them as pending for accounting purposes. 

Svobodny also used the company’s credit cards to transfer funds to herself via Paypal more than 300 times and fraudulently edited some of the transactions to show as payments to a company that turned out to be defunct, according to court records. 

The indictment accuses Svobodny of willingly embezzling over $1,137,000 from the company over the course of seven years. 

US Attorney's Office Minnesota news release
US Attorney's Office Minnesota news release

Svobodny pled guilty to one count of wire fraud on Thursday. She’ll be sentenced at a later time.

More Minnesota News:

Gone! Central MN Cabin With Private Go-Cart Track Sells For $1.4M

A cabin listed for sale since January has finally sold for just less than the asking price of $1.5 million. The cabin included a go-cart track, bowling alley, plus 64 acres of land. The home, which is now off the market was located at 27463 Waffensmith Rd, Deerwood, MN 56444

Gallery Credit: Michael Boege with Coldwell Banker Realty


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