SANDPOINT — Plea negotiations are under way in the case of a Bonner County woman accused of embezzling money from a company she co-founded.

Virginia “Ginger” Katherine Petty is charged with grand theft. A hearing to determine if there is enough evidence to justify a trial in 1st District Court is set for April 20.

Petty’s preliminary hearing has been repeatedly delayed because of voluminous discovery in the case, the defense’s hiring of a certified public accountant and resolution negotiations, court records show.

Petty, 55, defrauded GeoData Technologies from 2007 to 2010, charging documents allege. GeoData provides three-dimensional computer software for use by real estate professionals and potential property buyers.

Petty was an accountant for GeoData and at one point held a seat on the company’s board of directors, Idaho Secretary of State records indicate.

A Sandpoint Police investigation concluded that Petty had on a number of occasions transferred funds from a GeoData account to make payments on a half-dozen loans taken out by Black Diamond Engineering, a civil engineering company operated by her husband.

Bonner County Deputy Prosecutor Larry Goins said during a probable cause hearing last fall that Black Diamond made a $50,000 bridge loan to GeoData. But bank records showed only $32,453 was actually deposited into GeoData’s account.

Unaware the company had not been provided with the full amount of the loan, GeoData paid back the loan plus nearly $4,000 in interest. Goins contends Ginger Petty came away about $18,000 she was not entitled to.

Between the fund transfers and the bridge loan overage, the defendant embezzled as much as $53,000 from GeoData, Det. Eric Ryan testified during the Nov. 2 hearing.

Petty’s defense counsel, Nicolas Vieth, has already entered a not guilty plea on his client’s behalf. Petty is free on her own recognizance while the case is pending.