MIL-OSI Security: Former Accounting Director for Corona Company Sentenced to Nearly 5 Years in Federal Prison for Embezzling Almost $1 Million

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Source: Office of United States Attorneys

RIVERSIDE, California – A Riverside County woman was sentenced today to 57 months in federal prison for embezzling nearly $1 million from her employer, which managed the financial affairs for homeowner associations, primarily in the Inland Empire.

Jenev Boyd, 60, of Corona, was sentenced by United States District Judge Sunshine S. Sykes, who also ordered her to pay $780,810 in restitution.

Boyd pleaded guilty in December 2023 to one count of wire fraud and one count of aggravated identity theft.

Boyd was a long-time employee of and the director of accounting for Encore Property Management, a Corona-based company that provided property management services to its homeowner association clients.

From January 2012 to August 2020, Boyd reactivated retired or non-active client accounts in a software program Encore used to falsely reflect that these were still active clients. She then changed the selected vendor’s information to reflect her own name and address. Through manipulation of Encore’s internal accounting software, Boyd was able to mask payments to herself from client accounts as vendor payments. Boyd kept the monthly amounts in line with other vendor payments therefore hiding the embezzlement.

Boyd also forged signatures, including that of Encore’s president, on each check she fraudulently issued to herself. She also misled the company’s clients about the checks she wrote to herself out of their accounts, including by describing the transactions as being for operating expenses rather than as a payment to her based on a bogus invoice.

In total, Boyd defrauded her employer and its clients out of $931,077.

“[Boyd] abused the trust of her friends and co-workers and convinced them they did not need to look more carefully at reports from banks, which she doctored before providing an accounting to each client she had embezzled from,” prosecutors argued in a sentencing memorandum. “As a result of her fraud, employees left the business, and those who considered her a friend, like a sister, felt blindsided and betrayed.”

The FBI investigated this matter.

Assistant United States Attorney Sean D. Peterson of the Riverside Branch Office prosecuted this case.

MIL Security OSI