Accountant accused of fraud

By the time she quit, she had almost doubled her pay at Regal Homes, authorities say.

By AUSTIN BOGUES
Published July 11, 2007

SPRING HILL - As an accountant at Regal Homes, Doreen Coiro had access to computer programs and an abundance of financial information.

But authorities say she misused her position to enrich herself.

Between April 20, 2006, and April 19 of this year, Coiro was supposed to have made $38,260. But by giving herself unauthorized hourly pay increases, bonuses, vacation pay and reimbursements, she boosted that amount to $74,490, authorities said. She also is accused of having family health benefits while paying only for single coverage, which reduced her payments by $2,430.97.

The irregularities came to light after Coiro, 37, quit her job earlier this year. On Tuesday, she was arrested and charged with organized fraud, tampering with evidence and offenses against intellectual property. She was being held in the Hernando County Jail in lieu of $42,000 bail.

Officials with Regal Homes could not be reached Tuesday for comment.

An affidavit filed with the Hernando County Sheriff's Office alleges that Coiro used the accounting computer program at Regal to conceal the pay raises. Reports state that Coiro was expected to make a salary of $35,360 and bonuses of $2,900 from April 20, 2006, to April 19 of this year.

According to the affidavit, Coiro increased her bonus pay by $23,450 and her salary by $7,380, and also gave herself $2,400 in unauthorized vacation pay and $3,000 in unauthorized reimbursements.

Authorities also estimate that because of the boost in Coiro's pay, the home-building company paid an additional $6,259 in federal income taxes.

Authorities said the total loss to Regal caused by Coiro was $44,919.97.

The affidavit says Coiro deposited the unauthorized funds in two bank accounts in her name. Authorities say she deleted or altered computer records and destroyed or concealed paper documents to help hide the crimes she was committing.

Coiro quit her job on April 20, according to a spokeswoman for the Sheriff's Office. The report said Regal Homes wasn't aware of the discrepancies in their records until another accountant informed the company after Coiro left.

Authorities said that they attempted to question Coiro regarding the investigation and that she scheduled an appointment with them, but never showed up. An attorney then contacted the Sheriff's Office on behalf of Coiro.

Austin Bogues can be reached at abogues@sptimes.com or (352) 754-6117.

[Last modified July 10, 2007, 21:12:25]