Columbia businesswoman released on bond, after being indicted for alleged $1.5 million embezzlement scheme

A prominent mid-Missouri businesswoman is under federal indictment, accused of using her payroll services company in a $1.5 million embezzlement and fraud scheme.

62-year-old Kat Cunningham of Rocheport is the former chief executive officer and owner of Columbia-based Moresource Incorporated. While her first name is Kathryn, she’s known around town as Kat.

Federal prosecutors say Cunningham allegedly embezzled $1.54 million in payroll deposits from 24 Moresource clients. She’s charged in a 38-count indictment that was unsealed Thursday morning. 939 the Eagle has obtained the 13-page federal indictment, which alleges that Cunningham took some client’s money for personal benefit, to pay penalties assessed by the IRS and to fund Moresource operations.

U.S. Attorney’s office spokesman Don Ledford tells 939 the Eagle that Cunningham was arraigned today before U.S. Magistrate Judge Willie Epps in Jefferson City and has been released on bond.

The Columbia Chamber of Commerce honored Kat Cunningham as the Chamber’s 2016 outstanding citizen of the year.