Aztec woman sought on warrant for allegedly embezzling $240K from Farmington business
FARMINGTON — A 59-year-old Aztec woman was accused last week of embezzling more than $240,000 from a Farmington business.
Teresa Dedrick was charged May 20 in Farmington Magistrate Court with embezzlement of more than $20,000, a second-degree felony, and 30 counts of third-degree felony forgery.
Police had not arrested Dedrick as of about 1:30 p.m. Tuesday, said Farmington police spokeswoman Georgette Allen. She is sought on a $350,000 cash-only bond, according to court records.
A voicemail message left at the phone number listed online for Dedrick's business was not returned by press time.
Drew Bates, owner of Protocom Consulting Inc., first reported the alleged thefts to police on May 4, according to the arrest warrant.
He told police that Dedrick's business, Business Binds Undone, provided bookkeeping services for Protocom Consulting.
He said he first noticed discrepancies in his bank statements in early April, and after reviewing his records, he discovered Dedrick had forged approximately 35 business checks and deposited them in her own account, the warrant states.
He said he confronted Dedrick on April 10 with the alleged fraud, and she admitted to stealing $241,533 from Bates' business, according to the warrant.
She signed a document Bates provided admitting guilt and initially agreed to pay the money back, the warrant states.
However, after she was injured in a traffic accident, Bates said she stopped cooperating, according to the warrant.
Bates said in an interview with The Daily Times on Tuesday that Dedrick provided bookkeeping services for his company for approximately eight years.
He said he felt angry and betrayed and was seeking restitution through both criminal and civil action.
"I want restitution," he said. "I can't decide what will happen to her. Only the man above can determine that."
San Juan County Chief Deputy District Attorney Dustin O'Brien said his office can seek restitution through a criminal conviction, but defendants can only be ordered to pay what they have the ability to pay.
"Unfortunately, if they don't have the money and they are ordered into jail or probation, that judge's order is in some ways unenforceable," he said.