SUMTER, S.C. – A woman accused of taking more than $6 million from the textile company she worked for spent the money on 44 vehicles, 22 watercraft and more than $700,000 in jewelry, according to a lawsuit filed by the company.
Angela Timmons, 45, of Sumter was indicted by a federal grand jury this week on charges of bank fraud, wire fraud and money laundering. She was an account manager and finance director for Peace Textile from 1997 through 2006, according to the U.S. attorney's office.
According to the indictment, Timmons took money from the company and defrauded BB&T bank from October 2003 through October 2006.
If convicted, she faces a maximum penalty of $1 million and 30 years in prison, the U.S. attorney's office said.
Timmons has not been arrested but is scheduled to appear in court Tuesday, U.S. attorney's office spokeswoman Nancy Wicker said.
Timmons' attorney, Chip McMillan, did not return immediately return a phone call Thursday seeking comment.
Peace Textiles sued Timmons in November, asking a judge to stop her from selling or transferring property that the company claims were bought with embezzled funds.
According to the suit, Timmons used the money to buy at least 19 pieces of property in Sumter County, including some rental properties; 44 vehicles, including a Porsche, two Mercedes, three Hummers, a BMW, a Jaguar, a Corvette and an all-terrain vehicle; 22 watercraft including boats, boat motors, trailers and personal watercraft; more than $700,000 in jewelry; golf carts; a tanning bed; and a camper.
The suit also says that the U.S. Attorney's Office seized more than $400,000 in cash from Timmons' home during a search.
Timmons took the money by forging checks and wiring money into her own account or accounts set up for her by other people, according to the lawsuit. The company contends Timmons hid the embezzlement by creating false entries in the company's books.
In an affidavit, Peace Textile president Chang Hwan Bae said he was told by investigators with the Internal Revenue Service in October that they thought Timmons had been embezzling money.
According to the lawsuit, Timmons apologized to Bae and said she would pay the company back, but the company has not received any money so far.
Peace Textile personnel manager Jason Dubose said he cannot comment on the case.
Also named in the lawsuit are Timmons' husband, Dennis T. Cox; her parents, William and Katie Timmons; and an Ohio man, Raymond Hammonds. The company contends some of the money was transferred to Timmons' parents and to Hammonds.