RED LAKE COUNTY, MN (trfnews.i234.me) — Stephanie Michele Nipp, a 56-year-old resident of Great Falls, Montana, is detained on a $5 million bond. She faces charges of felony theft by swindle and receiving stolen property, with the swindling charge carrying a maximum sentence of 20 years.
Investigation Details
In October, the Minnesota Bureau of Criminal Apprehension initiated an investigation into suspected fraud involving Red Lake County Cooperative, Inc. The co-op’s general manager reported receiving an email in July, purportedly from a construction assistant at Gales Design & Consulting, which managed a project for the co-op. The email contained payment instructions to Sackett-Waconia, a company specializing in fertilizer industry equipment. Following these instructions, the co-op transferred $573,818.75.
Discovery of Fraud
A month later, the construction assistant inquired about the payment status of the Sackett-Waconia invoice. The general manager confirmed the payment had been made as per the emailed instructions. However, the assistant denied sending such instructions. This discrepancy led to the discovery that the provided wiring instructions were fraudulent, linked to a Bravera Bank account in Great Falls, Montana.
Bank Account Details
Investigators found that the Bravera Bank account receiving the unauthorized transfer was opened on July 12 by Nipp. She presented a Montana Secretary of State document of incorporation for Sackett-Waconia, dated July 11, listing herself as the incorporator. Subsequent account activity included withdrawals through checks to various individuals, Apple.com transactions, cash withdrawals, and transfers to a money market account. The account was closed in August with a balance of $130.
Legal Proceedings
Charges against Nipp were filed on January 6, and a warrant for her arrest was issued the same day. She was booked into the Northwest Regional Corrections Center on January 17. During her initial court appearance on January 21, her bond was set at $5 million cash or surety. If released on bond, Nipp is restricted to Montana, Minnesota, or North Dakota, must surrender her passport, submit to random searches, and is prohibited from possessing weapons. A public defender has been appointed for her, with the next court hearing scheduled for January 29.
I’m Chris Harper, reporting for trfnews.i234.me