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Tamara Wallace: A Convict? (2024)

Tamara Wallace

Tamara Wallace is a businesswoman and business consultant who operates in the Dallas, Texas, area during her working hours. Wallace might be considered a graduate of the University of Southern Indiana. 

Former executive convicted of stealing $1.3M from company 

It was recently determined that Tamara Wallace, who had previously served as the Chief Operating Officer (COO) of a corporation located in Flower Mound, had stolen more than $1.3 million from the organization.

Under the moniker Donate2Impact, the company, which was once known as Recycle2Support, is now working in conjunction with other community groups. In 2021, Wallace was arrested on accusations of felony theft after her fraudulent practices were brought to light as a result of an investigation. In January 2022, she entered a guilty plea to the charges.

Wallace allegedly used corporate cash for his costs, which included expensive things such as designer handbags, house modifications, spa treatments, and holidays, according to the authorities who investigated the matter. Petty cash withdrawals, sending checks to herself without authorization, and inappropriate use of corporate credit cards were some of the techniques that she used to steal money from the company.

Furthermore, Wallace not only got illicit incentives but also overpaid herself and her sons by manipulating payroll to do this. During his inquiry, the Chief Executive Officer of the firm, Matthew Kloeber, came across transactions that were deemed uncertain, one of which was a deposit of $5,000 for a wedding location in Plano. Upon further investigation, allegations of theft totaling more than $1.3 million were discovered.

Wallace agreed to make an initial payment of half a million dollars as part of her plea bargain, and she also promised to give the company around $86,000 yearly in restitution. She would be in breach of the conditions of her probation if she did not fulfill her reparation responsibilities. Also, as part of her sentence, Wallace consented to serve a term of ten years on probation, to spend thirty days in county prison, and to guarantee that she would make full restitution while she was on probation.

The Flower Mound company suffered huge financial losses as a direct result of Tamara Wallace’s embezzlement plan, and the fact that she was convicted of the crime exemplifies the dire repercussions that may arise from white-collar offenses.

An executive from Flower Mound embezzled more than $1.3 million from the business

An executive who had previously worked for a company in Flower Mound that collaborates with charitable organizations in the community has been found guilty of stealing more than $1.3 million from the organization.

A felony theft charge was brought against Tamara Wallace, who was the chief operating officer at the time, and she entered a guilty plea in January. She utilized the stolen monies to finance a luxury lifestyle, which included visits to the spa, holidays, house upgrades, and designer purses, among other privileges.

There was a period during which Wallace’s theft remained unreported, and the CEO of the company, Matthew Kloeber, expressed amazement upon learning of the theft. When it came to stealing money, Wallace used a variety of strategies, such as using petty cash, making checks without authorization, and using business credit cards to their maximum capacity. Additionally, she altered payroll to give herself and her sons bonuses that were not permitted.

In response to the fact that suspicious expenditures were identified on the company’s card, Kloeber decided to initiate an investigation into the fraudulent activities that had been brought to light. Multiple improper expenditures amounting to more than $1.3 million were discovered as a result of the investigation.

The guilty plea that Wallace entered into involves an agreement to return restitution of $500,000 in the beginning, with subsequent payments of around $86,000 per year. If compliance is not met, a violation of probation will occur. Since then, the corporation has introduced more stringent methods to oversee its financial operations.

In response to her conviction, Wallace’s counsel expressed regret on her behalf and detailed her penalty, which includes ten years of probation, thirty days in county jail, and the complete payback of restitution during the entirety of the probationary period.

In general, the embezzlement committed by Wallace has resulted in severe financial ramifications for the organization. This finding highlights the significance of having rigorous internal controls to prevent such instances from occurring in the future.


In conclusion, the conviction of Tamara Wallace for stealing more than $1.3 million from the Flower Mound corporation exemplifies the catastrophic effect that white-collar crimes have on both enterprises and communities. It is not only that Wallace’s fraudulent conduct caused the firm to suffer enormous financial losses, but they also caused the company’s reputation to be permanently damaged. 

Embezzlement schemes may be detected and prevented by adopting rigorous internal controls and supervision procedures, as shown by this instance, which underscores the necessity of that. 

As an additional point of interest, the fact that Wallace entered a guilty plea and was subsequently sentenced serves as a reminder of the legal repercussions that people face when they engage in fraudulent actions. The firm needs to tighten its financial protections as it goes ahead to protect itself against future catastrophes that are comparable to those that have occurred in the past.

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