Southern Indiana woman charged in $400K securities scheme

NEW ALBANY, Ind. (AP) – A southern Indiana woman faces federal charges alleging that she stole nearly $400,000 from a company she once worked for.

Fifty-six-year-old Cathy E. Rowan of Greenville was charged this week with making, uttering and possessing forged securities. Rowan had worked as a bookkeeper for New Albany-based Elite Heating and Air Conditioning Refrigeration.

Federal prosecutors allege that between January 2011 and June 2015 Rowan wrote 178 checks worth about $378,000 to herself and deposited them in her personal bank account.

Rowan was released on her own recognizance following an initial hearing before a federal magistrate judge in New Albany. If convicted she faces a maximum of 10 years in prison and a $250,000 fine.

A message left Thursday seeking comment from her New Albany attorney was not immediately returned.