Florida Accountant Sentenced to Six Years for Embezzling Over $900K from Employer

In a significant case of white-collar crime, a Jupiter, Florida woman has been sentenced to six years in state prison after pleading guilty to embezzling more than $900,000 from her employer over a two-year period.

Details of the Embezzlement Scheme

Michele A. Nichols, who served as an accountant for Fitzhugh Holdings since 2021, exploited her position to divert company funds into her personal bank account. According to the Jupiter Police Department, Nichols manipulated payroll and financial operations to “give herself a bonus,” systematically siphoning off funds between 2021 and 2023.

The fraudulent activity came to light when discrepancies were noticed in the company’s financial records, prompting an internal investigation that led to Nichols’ arrest.

Legal Proceedings and Sentencing

Nichols pleaded guilty to charges of organized scheme to defraud and money laundering. On May 19, 2025, she was sentenced in a Palm Beach County court to six years in state prison, with credit for 104 days already served.

This was not Nichols’ first encounter with the law regarding financial misconduct. In 2023, she was arrested for a separate fraud scheme and subsequently sentenced to 10 years of probation.

Implications and Preventative Measures

The case underscores the critical importance of robust internal controls and regular audits within organizations, especially concerning financial operations and payroll management.

Employers are advised to implement stringent oversight mechanisms, including:

• Segregation of Duties: Ensuring that no single employee has control over all aspects of financial transactions.

• Regular Audits: Conducting periodic internal and external audits to detect and prevent fraudulent activities.

• Employee Background Checks: Performing thorough background checks during the hiring process, particularly for positions involving financial responsibilities.

By adopting these measures, businesses can mitigate the risk of internal fraud and protect their financial integrity.