Woman, 70, embezzled nearly $500K from medical institute, prosecutors say

SAGINAW, MI — A 70-year-old woman is accused of embezzling nearly $500,000 from a Saginaw medical institute during her time as an employee.

Vassar resident Marcia J. Conaway was arraigned Tuesday, Nov. 14, on one count of embezzling more than $100,000, a 20-year felony.

While an employee of Michigan CardioVascular Institute, Conaway allegedly used institute funds to pay for personal purchases she made on personal credit cards from June 2010 until her retirement in February 2017, according to the Saginaw County Prosecutor’s Office.

Prosecutors allege Conaway falsified the company’s accounting record by withholding revenue to cover up the missing funds.

The investigation has uncovered approximately $467,000 missing, prosecutors said. It remains ongoing.

District Judge David Hoffman ordered a $10,000 personal recognizance bond for Conaway. Her next court appearance is Nov. 28.