Woman Pleads Guilty To Embezzling Approx. $1.3 Million From Employer

April 29, 2013 Updated Apr 29, 2013 at 12:29 PM EDT

By Mitch Simon

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Woman Pleads Guilty To Embezzling Approx. $1.3 Million From Employer

April 29, 2013 Updated Apr 29, 2013 at 12:29 PM EDT

BUFFALO, NY (WKBW) - An Arcade woman plead guilty, as charged, Monday morning after she stole approximately $1.3 million from her employer.

44-year-old Debra Davis plead guilty to Grand Larceny, Falsification of Business Records, and Offering a False Instrument for Filing. Davis admitted that between October of 2010 and September of 2012, she stole the money by embezzlement and falsifying company financial records.

The embezzlement occurred while employed as a bookkeeper for American Stainless Corporation in Buffalo.

Davis also admitted she evaded paying state income taxes by failing to report these ill-gotten earnings on her NYS Income Tax returns.

Davis used the money for gambling, buying a tow-truck business named "Triple Star Towing," which she named after her favorite slot machine game, and to purchase various consumer goods.

Davis faces up to 25 years in prison when she is sentenced on July 22nd.