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ARREST MADE IN FULLSCOPE EMBEZZLEMENT

A former employee of FullScope, the Athens, Ala.-based Dynamics AX VAR, has been arrested and charged with the alleged theft of more than $100,000 from Fullscope. According to an article in the July 20, issue of the News Courier, May Seymore Holden, 35, a former accounts manager, is accused of depositing Fullscope checks in her own account between January and May 2010. The case remains under investigation.
However, Edgewater Technology, which purchased FullScope on December 31, has said that an administrative office employee (not named in its documents) was trying to hide misdirection of customer payments and that possible embezzlement may have started as early as 2007. Edgewater is performing a forensic investigation. In documents filed with the SEC, Edgewater said a preliminary review showed the activity did not have a material impact on the financial statements for the period ended March 31.
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