US Releases Name of 57-Year-Old Woman Who Pleaded Guilty to Embezzling Over N2 Billion
- Cindy Zurawski Babbitt, a 57-year-old woman, pleaded guilty to wire fraud after embezzling over $1.5 million (₦2.13 billion) from her employer
- Babbitt used fraudulent checks, fake payroll reimbursements, and wire transfers over four years to funnel company funds into her personal accounts
- She spent the stolen money at luxury brands including Tiffany & Co., Louis Vuitton, Versace, and Cartier, and now faces up to 20 years in prison
Cindy Zurawski Babbitt, a 57-year-old chief financial officer from Stafford, Virginia, pleaded guilty on Tuesday, 7 July 2026, to wire fraud after stealing more than $1.5 million (₦2.13 billion) from the audio visual and information technology company in Lorton where she worked.
Court documents filed in the Eastern District of Virginia revealed that Babbitt exploited her position as CFO between December 2018 and December 2022, using her authority over the company's bank accounts to quietly drain funds for personal gain.
Source: Getty Images
The total amount stolen by Cindy came to whopping sum of $1,561,841.30 (₦2,136,594,847.47).
How Babbitt carried out the scheme
Prosecutors outlined three methods Babbitt used to siphon money from her employer.
She issued at least 44 cheques totalling $82,117 (₦112,318,272.30), drawn on the company's account and made payable to herself and her husband, signing them as the company's authorised representative before depositing them into her own account.
She also fraudulently approved 49 payroll reimbursements totalling $142,401 (₦194,785,233.79) in her own name.
According to a post published by the United States Attorney's Office, Eastern District of Virginia, the bulk of the theft came through at least 428 wire transfers totalling $1,337,323.30 (₦1,829,491,341.37), moved directly from the company's business checking account to her personal bank account.
None of the transactions were linked to any legitimate business expenses.
The funds were spent at high-end retailers including Tiffany & Co., Saks Fifth Avenue, Versace, Burberry, Balmain, Cartier, and Louis Vuitton.
Sentencing and Investigation
The case was investigated and is being prosecuted by Assistant U.S. Attorney Madison Mumma.
Babbitt is scheduled to be sentenced on 10 November 2026 and faces a maximum sentence of 20 years in prison.
A federal district court judge will determine the final sentence after weighing the U.S. Sentencing Guidelines alongside other statutory factors.
Woman scams people of N34 million
Meanwhile, Legit.ng previously reported that Rakiyat Musa was arraigned in Lagos for allegedly impersonating a Customs officer and defrauding victims of over N34 million.
Prosecutors claim she showed fake ID cards and promised discounted goods to secure large payments from multiple complainants.
Source: Legit.ng
