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Madison Regatta Inc., the all-volunteer, nonprofit entity that organizes and runs the annual Indiana Governor’s Cup boat race on the Ohio River, has received partial reimbursement of funds embezzled from its bank accounts nearly a decade ago.
Regatta media chairman Joe Hertz said in a news release issued Monday that the funds had been received. The release did not specify how much money was involved in the reimbursement.
Ann Center Geyman, who served as the Regatta treasurer for 16 years and was the organization’s first female president in 2003, was convicted after she admitted to federal investigators that she had taken $24,489 from Regatta funds.
She pled guilty in 2008 to mail fraud charges, which involved the Regatta case, and to embezzling more than $1.1 million from the Switzerland County School Corporation. She was sentenced to 48 months in prison by the U.S. 7th Circuit Court of Appeals.
The crimes occurred while she was employed as an accountant for J.D. Byrider, an used-car dealership and finance company in Madison, Ind.
The mail fraud in the J.D. Byrider case amounted to $76,000, according to Timothy M. Morrison, Acting U.S. Attorney for the Southern District of Indiana at the time of Geyman’s sentencing.
Morrison said the embezzlement of checks totaling $1,113,502 occurred between Jan. 20, 2003, and May 9, 2007, while Geyman was employed as Switzerland’s school corporation treasurer.
The Regatta mail fraud occurred between July 7, 2000, and June 26, 2001, her final year as Regatta treasurer.
Geyman also was convicted of three counts of filing false federal income-tax returns.
Madison Regatta Inc. was notified by letter from the U.S. Department of Justice regarding the reimbursement, which was funded by a court-ordered sale of Geyman’s assets, the release stated.
Through a public auction at the time of her sentencing, Geyman raised $56,773, which was repaid to the school corporation.
“All parties victimized by Ms. Geyman have also been notified through the Victim Notification System of the pending release of Ms. Geyman to a halfway house in Louisville, Kentucky,” the release stated. “The Victim Notification System is designed to provide information to victims of crime as the cases move through the criminal justice system.”
Geyman devised a scheme to defraud the Madison Regatta by preparing, signing and mailing 24 checks made payable to credit-card companies and businesses that had issued her personal lines of credit, Morrison said in 2008, adding that she covered up evidence of the payments by falsifying the organization’s records.