JUPITER, Fla. (CBS12) — A former financial controller for a Jupiter-based company has been sentenced to six years in prison after embezzling nearly $1 million by manipulating payroll systems and diverting company funds into her personal accounts.
According to the Jupiter Police Department (JPD), the owner of Fitzhugh Holdings LLC (FITZ) reported fraudulent activity on May 23, 2024. The owner expressed concerns about Michele Nichols, 63, who had served as the financial controller since December 2021. The suspicions arose after the owner noticed discrepancies in expense reports and payroll analyses, which were further amplified by a budget analysis provided by Nichols that revealed significant inconsistencies.
An investigation into Nichols’ activities uncovered an extensive criminal history. Records checks revealed an outstanding court case in Palm Beach County from 2023, where Nichols was involved in organized fraud and grand theft. She had been ordered to pay restitution of approximately $550,000 for the previous offenses.
The investigation revealed that Nichols used ADP payroll systems to embezzle funds by creating direct deposit transactions under the names of two Fitzhugh subsidiaries: WSN LLC and Global Fine Arts. However, instead of sending the funds to the companies, the money was diverted into several of Nichols’ personal bank accounts. In total, she stole $991,160.08 from the company.
As the investigation unfolded, Nichols was terminated from her position at Fitzhugh Holdings on June 3, 2024. On Tuesday, she pleaded guilty to charges of organized scheme to defraud and money laundering.
Nichols has been sentenced to six years in prison for her role in the elaborate embezzlement scheme.
