Ex-HP employee charged in credit card fraud investigation
SAN JOSE >> Federal prosecutors have charged a former HP Inc. employee with stealing roughly $4.8 million from company credit cards — money she allegedly used to buy hundreds of designer bags, jewelry items, and a Tesla, court records show.
Shelbee Szeto was charged with wire fraud and money laundering, charges that carry up to 20 years in federal prison and a $250,000 fine. The charging records allege that she stole millions by simply making per- sonal charges to company credit cards, and linking HP credit cards to her per- sonal bank account with First Republic.
When first confronted, Szeto claimed to have made millions in legitimate income in less than a year, and filed false tax returns to cover her tracks, according to the charging records.
“When a First Republic Bank employee questioned the source of the fraudulent funds that Szeto stole from HP, Szeto falsely represented to the employee that the deposits were legitimate business income from her work as a consul- tant and that she had re- ceived approximately $3.6 million in legitimate busi- ness income between ap- proximately May 2020 and April 2021,” the charging records allege.
The scheme lasted from 2018 to last year, when it was discovered and she lost her job, prosecutors allege.
Mentioned in the charging records are approximately 200 luxury items Szeto allegedly bought, including crocodile handbags, Chanel purses, Rolex watches, a 2020 Tesla sedan, a Louie Vuitton teddy bear, a Cartier diamond ring, and a halfdozen gold necklaces.
Federal prosecutors have moved to seize the items, alleging they're the spoils of the fraud scheme.
It is unclear from the docket if Szeto has retained an attorney, and her first court appearance has not yet been set, records show. The charges were filed on Friday.
“HP requires its employees, partners and suppliers to adhere to the highest standards of integrity and ethical business conduct,” an HP spokesperson said in a statement Monday. “We fully cooperated with the investigation involving a former employee and are aware that the matter has now been resolved.”