Woman Freed as she Awaits Embezzlement Trial

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By Becky Ogann

Story Created: Oct 28, 2009 at 12:13 PM CST

Story Updated: Oct 28, 2009 at 12:13 PM CST

DES MOINES (AP) - A federal magistrate says he will allow an accused embezzler to go free while she awaits trial for allegedly embezzling an estimated $5.9 million from Aviva USA.

Phyllis Stevens has pleaded not guilty to 18 counts of wire fraud, money laundering, embezzlement, computer fraud and aggravated identity theft.

The 58-year-old Stevens, a 35-year-employee of Aviva and a predecessor insurance company, is accused of creating a computer program that channeled commission payments into a bank account jointly held by her and a companion.

U.S. Magistrate Judge Ross Walters on Tuesday granted Stevens' request to be released on bond. Her release is contingent on Stevens providing the $75,000 bond in cash.

Walters made the ruling despite Assistant U.S. Attorney Andrew Kahl's contention Stevens' activities, including flying to Nevada after the embezzlement was discovered, proved she was a flight risk.

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