Police Blotter: UPDATED: Embezzlement, Misuse of Credit Card

An Oxford woman has been charged with embezzling more than $50,000 from her former Bethel employer, police said.

Michele Saad, 42, of 40 Ancient Highway, turned herself in to  over the weekend after learning of a warrant for her arrest, Bethel police confirmed.

Police did not reveal details of the investigation but confirmed Saad had been charged with first-degree larceny, illegally obtaining goods and services and illegal use of a credit card for thefts that occurred at Memry Corp.

Company officials confirmed to Bethel Patch that there had been a police investigation but refused to comment for an article.

When reached at her home Wednesday night, Saad did not comment and hung up the phone on a Patch reporter.

Information about Saad's employment history is detailed on her public page on Linked In, a social networking site for business people. It states that Saad worked at Memry, a manufacturer for the medical industry, from 1999 through 2011 where her position started in accounts payable, according to her site. It states that she "processed daily cash receipts, prepared bank deposits, and arranged credit card transactions."

In 2004, Saad was promoted to Senior Accounts Payable Analyst, according to her Linked In page, which states she was "solely responsible for the management of weekly check processing and distribution," and "prepar(ing) international wire transfers for management approval."

In her position, Saad was completely in charge of the financial records of the company, the Linked In page states. The page also states that she "analyze(d) expense accounts on a monthly basis to ensure adherence to budget" and "prepare(d), maintain(ed), and distribute(d) monthly financial accounting documents, records and reports." 

Memry Corporation is a privately held company that makes precision parts for medical supplies, such as stents. According to Linked In, the company has between 200 and 500 employees in California and in Bethel. 

Saad was a graduate of Sacred Heart University and Albertus Magnus College, according to her Linked In page.

She was released on a written promise to appear to the Danbury Superior Court on Jan. 31. If convicted of the most serious charge, first-degree larceny, a Class B felony, Saad could face between 1 and 20 years in prison and/or up to a $15,000 fine, according to Connecticut Penal Codes.