Woman accused of stealing $360k from northeast Memphis business

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Elizabeth Osborn

Data pix.

MEMPHIS, Tenn. — A Mid-South woman was arrested after police say she stole thousands from her former employer.

On Wednesday, officers were called to Diversified Builders on Crestview Drive. An employee claimed that he was going through his year-end books when he started noticing discrepancies.

By the time police showed up, Elizabeth Osborn was already on her way to her former place of employment and was immediately taken into custody.

Police said when they questioned Osborn, she confessed to stealing more than $360,000 by using an accounting system she set up behind her bosses' backs. She would print a check to a vendor that the company used, forge her boss’ name, then deposit it into her bank’s ATM.

Once the money was in her account, she would delete the check from her employer’s records, print a new check and pay the vendor in full.

WREG visited Osborn’s listed address and spoke with her mother, who didn’t know anything about the charges. She told us her daughter was at work.

Osborn is now facing two Class A felonies.

Diversified Builders is currently reviewing old bank records, believing Osborn stole even more money in the past. WREG reached out to the company but have not heard back.

Osborn is due in court Dec. 12.

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