NORFOLK, Va. - A Portsmouth couple is going to prison for embezzling nearly $3 million from a Virginia Beach commercial real estate company.
Forty-one-year-old Terri Lynn Nagy-Phillips and her husband, 42-year-old Craig Phillips, pleaded guilty in July to one count each of conspiracy and wire fraud.
U.S. Attorney Neil H. MacBride says Nagy-Phillips received a 12-year prison sentence Wednesday in U.S. District Court in Norfolk. Craig Phillips was sentenced to nine years in prison during a separate hearing.
MacBride says in a news release that the couple also must pay about $2.87 million in restitution.
Court records show company checks were deposited in the couple's bank account or written to businesses to pay for goods and services that they bought. They also made unauthorized charges to the company's credit card.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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