Ex-HP executive pleads guilty to $5 million fraud scheme

OAKLAND, Calif. (AP) — A former executive with HP, Inc. has pleaded guilty to stealing some $5 million from the Silicon Valley computer company and using it to buy luxury cars, jewelry and watches. The U.S. attorney’s office says Shelbee Szeto entered pleas Wednesday in an Oakland federal courtroom to wire fraud, money laundering and a related tax charge. The 30-year-old Fremont woman was an executive assistant and finance planning manager for HP and was responsible for using company credit cards to pay off vendors. Prosecutors say she instead paid out phony expenses to accounts she set up through PayPal and other digital financial firms. Authorities say she acknowledged spending money on a Tesla, a Porsche SUV and more than 100 other items including Rolex watches and Gucci purses.