ARLINGTON HEIGHTS WOMAN ARRESTED FOR TAKING NEARLY $600,000 FROM
Thursday, November 28, 2013
—Sheriff Thomas J. Dart announced today that a 51-year-old Arlington Heights woman has been arrested after an investigation showed that she took nearly $600,000 from her former employer, Allstate Insurance Company.
Cook County Sheriff’s Police arrested Lisa Sterner on Tuesday at her home on a $500,000 cash-bond warrant for charges of theft- over $500,000 and money laundering.
The Sheriff’s Financial Crimes Unit was contacted in March by Allstate in Northbrook, which reported that Sterner, a former payment annuity specialist had taken money from the company for personal use.
The Sheriff’s Financial Crimes Unit investigation revealed that from October 2007 to March 2013 Sterner diverted returned annuity checks electronically into an account under the name of Nicole Sterner. The total taken during that period was $597,038.22. The investigation also showed the funds were transferred using an Allstate computer system ID and password that belonged to Sterner.
The returned payments were supposed to be deposited to an Allstate fund.
Allstate discovered the discrepancy earlier this year when a beneficiary contacted the company looking for a payment. The company learned that the payment had been deposited into another account instead.
Sterner, who had worked for Allstate for more than 30 years, was terminated in March.
Sterner is scheduled to make her initial court appearance today at the George N. Leighton Criminal Court Building.
Sheriff Dart reminds the public that the defendant is presumed innocent until proven guilty by the government in a court of law.