A Putnam County woman has been indicted on seven counts of bank fraud after she allegedly stole more than $900,000 from her company’s clients.
The indictments against Jennifer Edelbrock, 51, of Kalida, were announced Friday by Justin Herdman, U.S. attorney for the northern district of Ohio, in Toledo, and FBI Special Agent in Charge Stephen Anthony.
Edelbrock operated Edelbrock Enterprises, which also did business as Edelbrock-Reitz LLC in Delphos, authorities said. The company provided payroll and accounting services for companies in northwest and central Ohio. Those services included issuing payroll checks, withholding federal and states taxes, and making quarterly tax payments from money provided by the clients, according to the indictment.
Edelbrock fraudulently obtained at least $914,000 from her clients and used the money for her own personal enrichment, transferring the funds from clients’ bank accounts to the account of All Seasons Lawn and Recreation LLC, which was owned by her husband, according to the indictment.
Edelbrock took money that she was supposed to hold in trust to pay her clients’ payroll expenses, including federal, state and local tax obligations, the indictment said. She concealed the late payment of taxes because notices of delinquencies and penalties often went only to Edelbrock, according to the indictment.
The case is being handled by Assistant U.S. Attorney Noah P. Hood.