Former CFO Charged in Embezzlement Scheme and Immigration Fraud

Baltimore, Maryland - The U.S. Attorney's Office for the District of Maryland announced, today, that a former Maryland-based chief financial officer (CFO), who worked for a multinational company, is facing indictment stemming from an embezzlement scheme and immigration fraud.

Teresa Desy Majo, 42, a legal permanent resident from Italy, residing in Annadale, Virginia, is charged with wire fraud, aggravated identity theft, and possession of a perjured immigration document in connection with the scheme. Majo served as CFO for the North American arm of Officine Maccaferri S.p.A, an Italian company, which is comprised of two subsidiaries: a U.S.-based entity, Maccaferri, Inc, and a Canadian-based entity, Maccaferri Canada Ltd. Officine Maccaferri is a geotechnical engineering solutions manufacturer and supplier specializing in soil stabilization. The former CFO used multiple Maccaferri executives' identities to fraudulently approve alleged employment benefits and compensation to enrich herself.

Kelly O. Hayes, U.S. Attorney for the District of Maryland, announced the indictment with Special Agent in Charge Jimmy Paul, FBI Baltimore Field Office.

According to the indictment, beginning in January 2021, and continuing through May 2024, Majo

devised a scheme to defraud both Maccaferri USA and Maccaferri Canada. As part of the scheme, Majo created multiple fabricated documents that supposedly authorized extra employment compensation and benefits. Additionally, Majo modified emails from executives to fraudulently authorize other unwarranted employment compensation and benefits. Majo submitted the counterfeit documents to Maccaferri USA and Maccaferri Canada's payroll departments. After Maccaferri fired her, Majo withheld her termination from, and otherwise lied to, immigration authorities to obtain legal permanent resident status.
An indictment is not a finding of guilt. Individuals charged by indictment are presumed innocent until proven guilty at a later criminal proceeding.

If convicted, Majo faces a maximum sentence of 20 years in federal prison for wire fraud, along with a mandatory consecutive sentence of two years for aggravated identity theft. Majo is also facing a maximum of 10 years for possessing a perjured immigration document.

U.S. Attorney Hayes commended the FBI for their work in the investigation. Ms. Hayes also thanked Assistant U.S. Attorneys Jared M. Beim and Jared W. Murphy who are prosecuting this federal case.

For more information about the Maryland U.S. Attorney's Office, its priorities, and resources available to report fraud, please visit justice.gov/usao-md and justice.gov/usao-md/report-fraud.

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