Woman going to prison for embezzling $1.4 million

An executive assistant who admitted to embezzling more than

$1.4 million from a 99-year-old San Francisco business mogul was sentenced to almost two years in prison, federal authorities announced Monday.

Suzie Moy Yuen, a 53-year-old Richmond district resident, spent much of the money paying off her own Neiman Marcus and Saks Fifth Avenue credit cards at the expense of her boss, multimillionaire Theodore Rosenberg.

Yuen, who worked with Rosenberg for 13 years, was responsible for maintaining his household and office expenses, preparing and signing checks and scheduling his appointments and travel, according to court documents. Yuen was given signature authority about her employer’s accounts at the Wells Fargo Bank and at the Bank of the West, but the authority was limited to paying his bills while he was traveling.

Rosenberg, who took over a one-man San Francisco window-washing business during the Depression and turned it into a billion-dollar corporation called ABM Industries, approached the FBI after Yuen left the job in 2003. Three years later, a San Jose grand jury indicted Yuen on seven counts of mail fraud and five counts of tax evasion.

To conceal her fraud, Yuen made false entries into her employer’s general ledgers to make it appear that all payments for her personal expenses were for his benefit. According to the indictment, to further conceal her fraud, Yuen lied to her employer’s accountant, who was conducting an internal investigation of his accounts.

After almost three years in federal court, she pleaded guilty Oct. 9 to a count of mail fraud and a count of filing a false tax return, according to the FBI. On Friday, U.S. District Court Judge James Ware sentenced her to 20 months in prison. She will also be required to pay back $1,417,300 to her former boss, along with $182,000 in restitution.

bbegin@examiner.com

Bay Area NewsLocal

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

Giants second baseman Donovan Solano scores on a double in the seventh inning against the Dodgers at Oracle Park on July 29. (Chris Victorio/Special to The Examiner)
Will the Giants make the playoffs? Kris Bryant may be the answer

By Chris Haft Special to The Examiner You’d be hard-pressed to find… Continue reading

Tiffany Carter, owner of Boug Cali West Coast Creole Shack in San Francisco’s La Cocina Marketplace, was dismayed by gentrification she found when she returned to her hometown to start a business. (Kevin N. Hume/The Examiner)
SF Black Wallstreet: Helping residents build wealth, reclaim spaces they’ve had to leave

Tiffany Carter moved back to her hometown of San Francisco five years… Continue reading

A prescribed fire at Sequoia and Kings Canyon National Parks was conducted in June 2016 to reduce hazardous fuel loading, increase watershed health, and restore the natural fire cycle in the Redwood Canyon area ecosystem. (Photo courtesy Rebecca Paterson/National Park Service)
Experts, UC scientists discuss wildfires in the state’s riskiest regions

Wildfires are nothing new in California’s history, but the magnitude and frequencies… Continue reading

Fourth-grade students at Lucerne Valley Elementary School don masks and Western wear for a “Walk Through California” history day during in-person instruction. (Courtesy of Krystal Nelson)
Confusion over mask mandate for California schools sparks tension between districts and parents

By Diana Lambert EdSource Shifting rules around mask mandates at schools are… Continue reading

Steven Buss, left, and Sachin Agarwal co-founded Grow SF, which plans to produce election voter guides offering a moderate agenda. (Kevin N. Hume/The Examiner)
Grow SF: New tech group aims to promote moderate ideals to political newcomers

Sachin Agarwal has lived in San Francisco for 15 years. But the… Continue reading

Most Read