Saudi Press

Saudi Arabia and the world
Wednesday, Jan 14, 2026

CEO reveals what she used embezzled $15mn for

CEO reveals what she used embezzled $15mn for

The millions were pocketed to fund her lavish lifestyle, court documents reveal
The US chief executive of a German saw-blade manufacturer has been found guilty of stealing $15 million from the company to finance her travel, jewelry, and luxury clothes, as well as personal businesses she ran on the side.

Donna Osowitt Steele, of Taylorsville, North Carolina, joined Tigra USA in 1999, starting work in the shipping department. She was serving as its CEO when she was fired in January 2020.

Court documents showed Steele had used company credit cards, checks, and wire transfers to steal funds. She was accused of spending over $1 million on lavish trips, including $255,000 at the Plaza Hotel in New York City and $155,000 at the Ritz-Carlton Maui, Kapalua in Hawaii.

Steele was also charged with spending over $200,000 of the company’s money on family wedding expenses, some $500,000 on jewelry, and more than $100,000 for flowers, plus another $100,000 on Gucci clothes and bags.

She transferred more than $350,000 in embezzled money to a high-end clothing and furniture business called Opulence by Steele that she created in 2013.

Steele faces up to 20 years in prison. She was ordered to surrender her passport and will be sentenced at a later date.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Trump Designates Saudi Arabia a Major Non-NATO Ally, Elevating US–Riyadh Defense Partnership
Trump Organization Deepens Saudi Property Focus with $10 Billion Luxury Developments
There is no sovereign immunity for poisoning millions with drugs.
Mohammed bin Salman’s Global Standing: Strategic Partner in Transition Amid Debate Over His Role
Saudi Arabia Opens Property Market to Foreign Buyers in Landmark Reform
The U.S. State Department’s account in Persian: “President Trump is a man of action. If you didn’t know it until now, now you do—do not play games with President Trump.”
CNN’s Ranking of Israel’s Women’s Rights Sparks Debate After Misleading Global Index Comparison
Saudi Arabia’s Shifting Regional Alignment Raises Strategic Concerns in Jerusalem
OPEC+ Holds Oil Output Steady Amid Member Tensions and Market Oversupply
Iranian Protests Intensify as Another Revolutionary Guard Member Is Killed and Khamenei Blames the West
President Trump Says United States Will Administer Venezuela Until a Secure Leadership Transition
Delta Force Identified as Unit Behind U.S. Operation That Captured Venezuela’s President
Trump Announces U.S. Large-Scale Strike on Venezuela, Declares President Maduro and Wife Captured
Saudi-UAE Rift Adds Complexity to Middle East Diplomacy as Trump Signals Firm Leadership
OPEC+ to Keep Oil Output Policy Unchanged Despite Saudi-UAE Tensions Over Yemen
Saudi Arabia and UAE at Odds in Yemen Conflict as Southern Offensive Deepens Gulf Rift
Abu Dhabi ‘Capital of Capital’: How Abu Dhabi Rose as a Sovereign Wealth Power
Diamonds Are Powering a New Quantum Revolution
Trump Threatens Strikes Against Iran if Nuclear Programme Is Restarted
Why Saudi Arabia May Recalibrate Its US Spending Commitments Amid Rising China–America Rivalry
Riyadh Air’s First Boeing 787-9 Dreamliner Completes Initial Test Flight, Advancing Saudi Carrier’s Launch
Saudi Arabia’s 2025: A Pivotal Year of Global Engagement and Domestic Transformation
Saudi Arabia to Introduce Sugar-Content Based Tax on Sweetened Drinks from January 2026
Saudi Hotels Prepare for New Hospitality Roles as Alcohol Curbs Ease
Global Airports Forum Highlights Saudi Arabia’s Emergence as a Leading Aviation Powerhouse
Saudi Arabia Weighs Strategic Choice on Iran Amid Regional Turbulence
Not Only F-35s: Saudi Arabia to Gain Access to the World’s Most Sensitive Technology
Saudi Arabia Condemns Sydney Bondi Beach Shooting and Expresses Solidarity with Australia
Washington Watches Beijing–Riyadh Rapprochement as Strategic Balance Shifts
Saudi Arabia Urges Stronger Partnerships and Efficient Aid Delivery at OCHA Donor Support Meeting in Geneva
Saudi Arabia’s Vision 2030 Drives Measurable Lift in Global Reputation and Influence
Alcohol Policies Vary Widely Across Muslim-Majority Countries, With Many Permitting Consumption Under Specific Rules
Saudi Arabia Clarifies No Formal Ban on Photography at Holy Mosques for Hajj 2026
Libya and Saudi Arabia Sign Strategic MoU to Boost Telecommunications Cooperation
Elon Musk’s xAI Announces Landmark 500-Megawatt AI Data Center in Saudi Arabia
Israel Moves to Safeguard Regional Stability as F-35 Sales Debate Intensifies
Cardi B to Make Historic Saudi Arabia Debut at Soundstorm 2025 Festival
U.S. Democratic Lawmakers Raise National Security and Influence Concerns Over Paramount’s Hostile Bid for Warner Bros. Discovery
Hackers Are Hiding Malware in Open-Source Tools and IDE Extensions
Traveling to USA? Homeland Security moving toward requiring foreign travelers to share social media history
Wall Street Analysts Clash With Riyadh Over Saudi Arabia’s Deficit Outlook
Trump and Saudi Crown Prince Cement $1 Trillion-Plus Deals in High-Profile White House Summit
Saudi Arabia Opens Alcohol Sales to Wealthy Non-Muslim Residents Under New Access Rules
U.S.–Saudi Rethink Deepens — Washington Moves Ahead Without Linking Riyadh to Israel Normalisation
Saudi Arabia and Israel Deprioritise Diplomacy: Normalisation No Longer a Middle-East Priority
Saudi Arabia Positions Itself as the Backbone of the Global AI Era
As Trump Deepens Ties with Saudi Arabia, Push for Israel Normalization Takes a Back Seat
Thai Food Village Debuts at Saudi Feast Food Festival 2025 Under Thai Commerce Minister Suphajee’s Lead
Saudi Arabia Sharpens Its Strategic Vision as Economic Transformation Enters New Phase
Saudi Arabia Projects $44 Billion Budget Shortfall in 2026 as Economy Rebalances
×