A 76-year-old woman from Superior Township, Nancy Caviston, is set to stand trial on felony embezzlement charges in Wayne County’s 3rd Circuit Court. Michigan Attorney General Dana Nessel announced that Caviston, operator of The Caviston Agency, Inc., an insurance agency in Plymouth, faces two counts of embezzlement by an agent, each carrying a potential sentence of up to 5 years in prison. Additionally, she is charged with two misdemeanor counts related to wage and fringe benefits violations.
According to authorities, Caviston allegedly diverted payroll deductions meant for IRA contributions of two long-term employees for personal and business expenses instead of depositing them into the employees’ IRA accounts. It is also alleged that she failed to make required matching contributions to these IRA accounts.
The investigation into these allegations was conducted by the Employee Benefits Security Administration of the federal Department of Labor. Caviston was granted a $5,000 personal recognizance bond earlier this year and is scheduled to appear next in court on July 12.
The case highlights the serious nature of financial misconduct and the legal repercussions faced by individuals accused of betraying trust in financial matters.
