The former Clyde's Corporate Comptroller, Nancy Preston, pleaded guilty Wednesday to a federal charge of mail fraud for her embezzlement of nearly $648,000 from Clyde’s Restaurant Group, which has a location in Georgetown.
Preston, 55, worked for the Clyde's Restaurant Group from 1982 to 2011. She lives in Vienna, VA.
"According to a statement of offense, signed by the defendant as well as the government, from approximately 1992 to September 2011, Preston was the corporate controller for Clyde’s. In that position, she oversaw the centralized accounting function, which included budget matters, accounts payable, and accounts receivable, among other responsibilities.
From 2001 to 2011, Preston embezzled approximately $647,547 from Clyde’s by diverting Clyde’s money to pay her personal credit card; charging the corporate credit cards in Clyde’s name (and paid by Clyde’s money) to pay for her unauthorized personal expenses; and using a Clyde’s vendor (paid by Clyde’s funds) to obtain goods for her personal use."
Preston faces a maximum penalty of 20 years in prison, in addition to other fines and penalties. She has already agreed to sign over equity-based incentive stock awards and/or options to Clyde’s and additional monetary forfeitures, which together total the amount she embezzled, according to the FBI.