One of the suspects involved in a multi-million dollar theft of a Morgan City business that spanned several decades has taken a guilty plea.
Donnasue Peveto of Houma pleaded guilty to 123 counts of theft and racketeering for her role in a theft of millions of dollars from Capital Management Consultants on Wednesday.
The thefts began in 1982 when accountant James Scott Tucker falsified company transactions with the assistance of Peveto, Karen and Armond Duhon, Nelson-Tucker LLC and ABC Siding Company to embezzle money into their accounts.
However, Capital Management only caught wind of it last year because of the hiring of a new accountant after the scheme’s mastermind, Tucker, had passed away.
Donnasue Peveto is facing up to 25 years in prison after being accused of cashing fraudulent checks on at least 123 occasions over the span of 30 plus years.
Capital Management’s Attorney, Marwan Mohey El Dien says this is only the beginning.
“They are hoping that this will bring it closer being to recover to locate some of the assets.” said Mohey El Dien
Capital Management says they can prove that at least nine million dollars were stolen in the scheme but believes there is at least 3 million more to find.
“There were so many that Capital Management was managing that the accounts were so convoluted, it will take us another year.” Mohey El Dien said.
Peveto is also expected to testify against her colleagues in the theft.
“What are really getting by having Ms. Peveto testify is to be able to confirm that this was all a conspiracy to be able to steal and hide.” he explained.
Mohey El Dien believes that will seal the deal.
“At this point there is no reason for us to consider making any deal with any of the co-conspirators.” said Mohey El Dien.
Capital Management Consultants is seeking max penalties for everyone else involved and are trying to recover as much of the stolen money as possible.
Peveto will be sentenced on April 12th.