A Pensacola federal Grand Jury returned an indictment Wednesday charging Wendy Corbitt, 38, with 67 counts of theft from an employee pension plan and tax evasion. The indictment was announced by Pamela C. Marsh, United States Attorney for the Northern District of Florida.
Counts One through 61 of the indictment allege that between October 10, 2007, and March 7, 2012, Corbitt embezzled money and other assets of the People’s First Properties Retirement Savings Plan,
Counts 62 through 67 of the indictment allege that for the tax years 2006 through 2011, Corbitt substantially underreported her and her spouse’s income on their joint tax return for the purpose of evading a substantial additional tax, which would have been due.
If convicted, Corbitt faces a maximum possible sentence on each count of five years in prison, a fine of up to $250,000, up to three years of supervised release, criminal forfeiture, and a $100 special monetary assessment.
The indictment results from an investigation by agents of IRS-Criminal Investigations, the U.S. Department of Labor’s Employee Benefits Security Administration, and the Panama City Police Department.