Steele Gets Eight Years In Prison And Ordered To Pay Almost $17 Million In Restitution

A former Taylorsville resident will spend eight years in federal prison for embezzling more than $15 million from the Hickory company where she was once the CEO.

53-year old Donna Oswitt Steele learned her fate in Federal Court in Charlotte on Thursday. The judge ordered Steele to pay nearly $17 million in restitution, and she is required to stay on supervised release for three years following her active sentence. During the court proceeding the judge dismissed Steele’s bid for leniency as “excuse-making” and said he doubted she was truly remorseful for her actions.

Steele served as the CEO of TIGRA USA in Hickory, an American branch of a German-based tool company. She pleaded guilty to wire fraud in January, acknowledging she stole more than $15 million from the company. Steele used some of the money to fund a craving for luxury clothing and accessories, including spending more than $500,000 on jewelry and other high-end purchases in New York City. Steele spent more than $1 million on personal travel according to court documents. She also siphoned off money from the company to support her side businesses including a furniture store in Taylorsville and a wedding venue located in the Ellendale Community.

A motion filed by the prosecution last week listed the agreed-upon restitution amount at roughly $16.9 million and included a nearly 2½-page list of jewelry and accessories the government has seized.

Steele’s attorneys argued that her mental health challenges, particularly a desire to buy love as a result of an abusive childhood, contributed to her embezzlement.

After her guilty plea in January, Steele moved to Watauga County.

Hickory Daily Record