ALEXANDRIA, VA. — This is an official press release from the U.S. Department of Justice (USAO - Virginia, Eastern), published as received.
ALEXANDRIA, Va. – A Stafford woman pled guilty today to wire fraud for using her position to embezzle funds from a company where she was employed as the Chief Financial Officer (CFO).
According to court documents, Cindy Zurawski Babbitt, 57, was the CFO of an audio visual and information technology company in Lorton. As the CFO, Babbitt had access and control of the company’s bank accounts, including a business checking account. From December 2018 through December 2022, Babbitt used fraudulent checks, payroll, and wire transfers to embezzle $1,561,841.30 from the company.
Babbit issued at least 44 checks totaling $82,117 that were drawn on the company’s checking account, made payable to her and her husband, signed by Babbitt as the authorized representative of the company, and deposited by Babbitt into her own bank account. Babbitt fraudulently initiated and approved 49 reimbursements totaling $142,401 through payroll to herself. Babbitt fraudulently caused at least 428 wire transfers totaling $1,337,323.30 from the company’s business checking account to her personal bank account. None of these transactions were made for any legitimate business expenses. Babbitt used the fraud proceeds for purchases at retail stores such as Tiffany & Co., Saks Fifth Avenue, Versace, Burberry, Balmain, Cartier, and Louis Vuitton.
Babbitt is scheduled to be sentenced on Nov. 10 and faces up to 20 years in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.
The U.S. Secret Service’s Washington Field Office investigated this case.
Assistant U.S. Attorney Madison Mumma is prosecuting the case.
Related court documents and information are located on the website of the District Court for the Eastern District of Virginia or on PACER by searching for Case No. 1:26-cr-39.
