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NEW ALBANY – United States Attorney Josh J. Minkler announced today that Cathy E. Rowan, 56, Greenville, Indiana, was charged with making, uttering and possessing forged securities following an investigation by the U.S. Secret Service and the New Albany Indiana Police Department.

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“White collar crime is detrimental to our entire economy,” said Minkler.  “Those who choose to steal from local businesses will be held accountable for their actions.”

The Information alleges that between January 1, 2011 and June 1, 2015, Cathy E. Rowan made, uttered, and possessed forged securities while working as a bookkeeper for Elite Heating and Air Conditioning Refrigeration, a New Albany, Indiana, based business.  The Information alleges that Rowan falsely prepared 178 checks with an approximate value of $378,000 by making the checks payable to herself rather than using the checks to pay legitimate business expenses of Elite Heating and Air Conditioning Refrigeration.  The Information further alleges that Rowan made false entries in Elite’s QuickBooks accounting software and deposited the falsely prepared checks into her personal bank account.

“This investigation and arrest demonstrates the ongoing relationship and cooperation with our task force partners in the New Albany Police Department,” said Craig Hutzell, Acting Special Agent-in-Charge of the Louisville Secret Service Field Office.  “The US Secret Service will diligently pursue these embezzlement cases that affect our neighbors, their businesses and the community.”

According to Assistant U.S. Attorney Todd S. Shellenbarger, who is prosecuting the case for the government, Rowan faces a maximum of 10 years in prison and a $250,000 fine.  Rowan had her initial appearance before a magistrate judge at 9 am this morning in New Albany federal court.  She was released on her own recognizance and no future court date has been set.

An Information is only a charge and is not evidence of guilt.  A defendant is presumed innocent and is entitled to a fair trial at which the government must prove guilt beyond a reasonable doubt.