Tuesday, April 18, 2006

Watch The Books

When a bookkeeper is able to embezzle more than $270,000.00, one has to ask questions such as: how was this possible; where was the oversight; and what is being done to change how the system operated?

Fraud Update reports here on a sentence of  two years in prison and restitution in the amount of $270,000.00 upon a plea to wire fraud of an individual who: 

"would write out expense checks from the Famous Anthony’s Account to her own personal account, but would list the payee as an acceptable payee or vendor in the Famous Anthony’s account books. When the original checks cleared [this individual's] personal account and were sent back to Famous Anthony’s, [she] would destroy the original check that named her as payee."

(esp)

http://lawprofessors.typepad.com/whitecollarcrime_blog/2006/04/watch_the_books.html

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