It seems that we are seeing more employee embezzlement all the time. If you read the articles, the owner usually says “I would have never thought that this long time employee would have stolen from me." There are some signs that you can look for to spot fraud and there are some systems that you can put in place to keep employees honest. In November we will be doing a webinar, “Red Flag Training”, which will discuss these issues.
The following article is an example out of a local newspaper:
A Lincoln woman pleaded no contest to theft by deception for embezzling from a marketing firm she helped found in 2002. The employee stole $154,937 from a marketing firm between July 2006 and March 19, 2009 according to the Deputy County Attorney. She said the woman who took care of the company's finances used bookkeeping software to write herself checks and make it look as if they were going to creditors. The company's president was a co-worker of the woman for nearly ten years. He discovered the loss when he began to take control of the company's finances.
The Lincoln woman is set for sentencing on the felony charge.
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