The United States Attorney’s Office announced that Lisa Rae Price was sentenced to 18 months in prison involving the embezzlement of more than $168,000 from her employer. She was also ordered to pay restitution of $168,000. At the conclusion of the sentencing, Price was taken into custody by U.S. Marshals to begin serving her sentence.
Price was employed by Paradise Fiberglass Pools, Inc., located in Swansea, IL, and later Imperial. Her job included general office work and involved conducting much of the business of the company. Price embezzled more than $168,000 by using her company ATM card to withdraw cash from company bank accounts for her personal use, between January 2005 and July 2010. She used the stolen money for gambling at regional casinos, purchasing personal items and paying personal bills. To hide her embezzlement Price solicited people to commit arson by burning consigned fiberglass formed in-ground pools located at a lot in Imperial. Those people she solicited refused to commit the arson. She planned on submitting a claim to the insurance companies which would cover up the embezzlement, however, her scheme failed.
Price, 43, Herculaneum, plead guilty in April to one felony count of wire fraud and appeared for sentencing before United States District Judge Rodney W. Sippel.
This case was investigated by Herculaneum Police Department and the Federal Bureau of Investigation. First Assistant United States Attorney Michael W. Reap handled the case for the U.S. Attorney’s Office.