A former supervisor for Dresser-Rand in Olean pleaded guilty to stealing $1.02 million from the company over 10 years to buy real estate, pay tuition and finance vacations.
Patricia Rahr, 59, of Portville, faces a prison term of up to three years and a fine of up to $100,00O when sentenced July 26. She pleaded guilty before U.S. District Judge William M. Skretny in Buffalo
Rahr pleaded guilty to filing false income tax returns from 1999 to 2003 and agreed to forfeit homes she owns on Hazelmere Avenue in Machias and Brooklyn Street in Portville, according to U.S. Attorney Michael A. Battle.
Prosecutors Paul J. Campana and Richard D. Kaufman said she also agreed to forfeit two personal watercraft, a four-wheel-drive all-terrain vehicle and a trailer as a result of the investigation launched by the IRS and the FBI.
Battle said Rahr admitted that from 1994 through the spring of 2004, she illegally transferred company funds from a company bank account into a personal bank account.
She also admitted failing to report the stolen money on her federal income tax returns for the tax years 1999 through 2003, costing the federal government more than $279,000.
Campana said Skretny could order Rahr to make full restitution to Dresser-Rand.
The prosecutors said Rahr was Dresser-Rand's lead accountant from 2000 to 2004 and previously held payroll and human resources positions with the company. Dresser-Rand makes equipment for power plants and for oil exploration and refining.