Bookkeeper Charged With Embezzling $3.2M From Montco Scrap Metal Co.

PHILADELPHIA — A former bookkeeper is accused of embezzling $3.2 million from a scrap metal salvage company in Horsham to pay for family entertainment, including a cruise, airplane tickets, and a home spa, officials said Friday.

Tammy Simpson, 49, of Monroe County, used her position as an assistant controller at Triad Metals International from February 2012 to October 2019 to pay personal bills, according to a federal indictment.

She remains free on $50,000 bail following a hearing before U.S. Magistrate Pamela A. Carlos in Philadelphia.

“This defendant allegedly swindled more than three million dollars from her former employer over the better part of a decade,” said U.S. Attorney Jennifer Arbittier Williams.
“Instead of doing the right thing and performing her job honestly as the assistant controller for this company, she took advantage of her position and chose the greedy path."

Williams said her office will continue to work with law enforcement partners to protect innocent individuals and businesses from being victimized by financial fraud.

“Tammy Simpson’s company entrusted her with key accounting duties,” said Jacqueline Maguire, special agent in charge of the FBI’s Philadelphia division.

“Little did they know their longtime employee would take full advantage of that trust, allegedly diverting and using millions of dollars of the business’s money as her own."

Simpson is charged with wire fraud and making false returns.

According to the indictment:

Simpson, who resided in Perkasie, Bucks County, used her position at Triad to steal company money to pay personal expenses and make payments on personal loans.

The indictment alleges that Simpson failed to report the money stolen from the company as income on her tax returns for tax years 2015 through 2018.

The federal government is seeking forfeiture of $3.2 million, which represents the total amount of money Simpson allegedly embezzled from her former employer.

“No matter how it’s earned, all income must be reported,” said IRS Criminal Investigation Special Agent in Charge Yury Kruty.

The case was investigated by the Federal Bureau of Investigations and the Criminal Investigation Office of the Internal Revenue Service. The case is being prosecuted by Assistant United States Attorney MaryTeresa Soltis.