Sujata "Sue" Sachdeva: Koss Fires Exec After Alleged $20 Million Embezzlement

03/18/2010 05:12 am ET | Updated May 25, 2011

NEW YORK (Reuters) - Koss Corp fired its vice president of finance after she allegedly embezzled more than $20 million from the headphones maker for a multi-year shopping spree of expensive clothes, jewelry and other personal items.

The executive, Sujata "Sue" Sachdeva, who is in her mid-40s, held the position at Koss since 1992.

Koss, which reported first-quarter sales of $10.8 million, also said on Thursday financial statements at least since the end of its 2006 fiscal year should no longer be relied upon.

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