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Nonprofit Exec Charged With Embezzling

MANHATTAN (CN) - The controller of a nonprofit biomedical research firm embezzled $1.8 million from the company, federal prosecutors say in a six-count indictment.

Karen Alameddine aka Karen Dean is charged with wire fraud and five counts of tax evasion. She was arrested Monday in Boston, the U.S. Attorney's Office in Manhattan said.

Alameddine, 57, of Perris, Calif., worked for the Hereditary Disease Foundation, which seeks treatments or cures for genetic illnesses.

"Alameddine not only embezzled almost $2 million and evaded taxes, she did so by ripping off the nonprofit organization she worked for - an organization dedicated to finding cures for serious diseases - and she did so when she was supposed to be responsible for its finances," U.S. Attorney Preet Bharara said in a statement Tuesday.

Wire fraud is punishable by up to 20 years in prison, each count of tax evasion by up to 5 years.

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