Novant Health exec pleads guilty to embezzlement

A former vice president of corporate risk management for Novant Health in North Carolina has pled guilty to embezzlement, reported the Winston-Salem Journal.

Carol C. Maultsby pled guilty to eight state counts of embezzlement, admitting to stealing $620,000 from Novant. Maultsby had set up a dummy company called Excel Strategic Solutions and authorized 50 checks valued at between $12,000 and $13,000 apiece over seven years, depositing them into a back account under the dummy company's name.

Although Maultsby earned more than $200,000 a year with Novant, a divorce and an ailing mother had apparently created difficult financial pressures for her, according to court testimony.

An anonymous employee tipped off Novant about Maultsby's embezzlement at the Novant-owned Forsyth Medical Center in Winston-Salem.

Maultsby received an indeterminate sentence of four to five years and four months, but all but two years of prison time was suspended by the judge.

Maultsby agreed to surrender her $300,000 retirement account to pay restitution and will pay the remainder back after she is released from prison.

For more information:
- read the Winston-Salem Journal article
- read the WXII article