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Tuesday, September 02, 2014, 8:33 p.m.
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Fort Smith woman named in $42 million indictment in N.J.

By The Associated Press

This article was published May 29, 2014 at 7:15 a.m.

A federal grand jury in New Jersey has indicted a Fort Smith woman over accusations she engineered the theft of $42 million in a Ponzi scheme centered on a payment, logistics and shipping business.

Prosecutors say 63-year-old Shirley Sooy turned herself in to authorities Wednesday to face charges of wire fraud conspiracy and other fraud-related charges.

Sooy is accused of running a scheme for 10 years in which a business called TransVantage Group contracted with corporate clients to pay audited freight bills. Sooy converted the cash to her own use, prosecutors say.

In a civil suit last year, Sooy denied fraud allegations.

Prosecutors say she used company money to pay mortgages, buy a Maserati sports car, a share in a yacht and other items for herself and family members.

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