The former CEO of a Fresno engineering and contracting firm pleaded guilty to embezzling more than half a million dollars from an employee pension fund, U.S. Attorney Phillip A. Talbert announced Tuesday.
According to court documents, Mary Williams, 70, of Fresno, was the CEO of Aeroplate Corporation. From June 2011 to November 2016, she stole around $509,000 from an employee pension plan.
Williams sold pension plan assets, including real estate, to raise money for Aeroplate. Federal law states any money raised by selling pension plan property may only be used to fund the plan.
Williams will be sentenced on April 3. She faces a maximum penalty of five years in prison and a $250,000 fine.