Couple plead guilty to embezzling $3mil

NORFOLK, Va. (WAVY) - A Portsmouth couple pleaded guilty in federal court for embezzling nearly $3 million from a real estate company in Virginia Beach to purchase tanning salon supplies and airplane tickets.

Peter Carr with the US Attorney's Office told WAVY.com Terri Lynn Nagy-Phillips, 41, and her husband Craig Phillips, 42, pleaded guilty July 11 in Norfolk federal court to one count of conspiracy and one count of wire fraud.

Carr says they could serve a maximum of 20 years in prison for each count and could also face restitution fees.

In a statement of facts for a plea agreement reached Wednesday, Carr says Terri Lynn Nagy-Phillips used her position as a comptroller of a real estate company from January 2007 through November 2011 to embezzle nearly $3 million from the company.

Carr says approximately $2.3 million of the stolen money was in the form of company checks deposited in the couple's bank accounts or used for purchases in stores.

According to the plea agreement, the couple also charged more than $500,000 to a company credit card to purchase supplies for a tanning salon business and book trips to the US Virgin Islands, New York City and Las Vegas.