Main Line Businesswoman Stole $650K To Fund Vacation, Wedding, Clothes

By Justin Heinze:

A Paoli businesswoman was sentenced to prison Wednesday for allegedly stealing hundreds of thousands from her employer in multiple wire fraud schemes, among other charges, according to the Department of Justice.

Tracey McShane of East Fallowfield will spend the next two years in prison on charges that she stole $650,194 from her employers’ personal bank account and used it to fund personal expenses.

McShane, formerly the Director of Financial Operations for Paoli-based Pacer Financial, Inc., allegedly used the money to pay for high-end clothing, a vacation to Mexico, hotel stays at the Four Seasons in Philadelphia and the Waldorf Astoria in New York, and $40,000 in wedding expenses.

The thefts occurred between December 2007 and February 2014, according to her indictment.

McShane plead guilty to most counts she was charged with on July 1.

She also was charged with filing false income tax returns from 2008 through 2013, and wrongfully increasing her own income in amounts that totaled $98,765 over the course of about four years, the indictment states.

As a part of her sentencing, McShane will be on supervised release for three years, and she will owe restitution of $783,180.18.