Comments on: Confessions of an Embezzler – Is Your Business At Risk? http://www.smbtrendwire.com/2008/02/13/confessions-of-an-embezzler-is-your-business-at-risk/ Small Business Trends Radio features interviews and open discussions with today's small business experts on a variety of topics. Guests include a mix of influential individuals who speak on issues of the day important to the small business market; and business owners who speak from a \"been there, done that\" point of view, offering insider tips and advice.Small Business Trends Radio is broadcast LIVE every Tuesday from 1:30 PM until 2PM EST. Tue, 27 Jul 2010 20:16:07 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: EaP http://www.smbtrendwire.com/2008/02/13/confessions-of-an-embezzler-is-your-business-at-risk/comment-page-1/#comment-155750 EaP Tue, 24 Nov 2009 13:24:52 +0000 http://www.smbtrendwire.com/2008/02/13/confessions-of-an-embezzler-is-your-business-at-risk/#comment-155750 once a con, always a con once a con, always a con

]]> By: Frank http://www.smbtrendwire.com/2008/02/13/confessions-of-an-embezzler-is-your-business-at-risk/comment-page-1/#comment-86927 Frank Thu, 03 Apr 2008 20:23:03 +0000 http://www.smbtrendwire.com/2008/02/13/confessions-of-an-embezzler-is-your-business-at-risk/#comment-86927 Our embezzler was the ideal employee too, easily trusted and very mulitasked. However, he was arrogant and cocky. His crimes lasted close to 4-yrs where he hid thingsfor a while, then arrogantly became more blatent. My wife and I were out with physical and family stresses and didnt DIG when we should have. We employ 12-15 people. WE PROSECUTED and now he sits in jail with 4-felonies and a $600,000 restitution order. With prosecution, he will also have to deal with the IRS...they expect INCOME TAXES on any money a person takes home. The IRS wont go after the embezzler without a criminal prosecution. IT IS IMPERATIVE THAT PEOPLE PROSECUTE. SHAME ON THOSE WHO LACK THE SPINE TO PROSECUTE THESE THEIFS, as they will always do it again to another business owner. Our embezzler was the ideal employee too, easily trusted and very mulitasked. However, he was arrogant and cocky.
His crimes lasted close to 4-yrs where he hid thingsfor a while, then arrogantly became more blatent.
My wife and I were out with physical and family stresses and didnt DIG when we should have. We employ 12-15 people.
WE PROSECUTED and now he sits in jail with 4-felonies and a $600,000 restitution order. With prosecution, he will also have to deal with the IRS…they expect INCOME TAXES on any money a person takes home. The IRS wont go after the embezzler without a criminal prosecution.
IT IS IMPERATIVE THAT PEOPLE PROSECUTE.
SHAME ON THOSE WHO LACK THE SPINE TO PROSECUTE THESE THEIFS, as they will always do it again to another business owner.

]]> By: EJMalyn http://www.smbtrendwire.com/2008/02/13/confessions-of-an-embezzler-is-your-business-at-risk/comment-page-1/#comment-80346 EJMalyn Thu, 14 Feb 2008 23:21:22 +0000 http://www.smbtrendwire.com/2008/02/13/confessions-of-an-embezzler-is-your-business-at-risk/#comment-80346 It doesn't surprise me that the "ideal employee" would be the one, it's always the one you least expect, the one you most trust. Very scary! It doesn’t surprise me that the “ideal employee” would be the one, it’s always the one you least expect, the one you most trust. Very scary!

]]> By: Chris http://www.smbtrendwire.com/2008/02/13/confessions-of-an-embezzler-is-your-business-at-risk/comment-page-1/#comment-80320 Chris Thu, 14 Feb 2008 17:19:06 +0000 http://www.smbtrendwire.com/2008/02/13/confessions-of-an-embezzler-is-your-business-at-risk/#comment-80320 I should've mentioned an interesting point, however. And that is that neither of the men above were suffering monetary problems. First gentlemen - exact opposite, actually. I believe it was just too tempting and they were crimes of opportunity. I should’ve mentioned an interesting point, however. And that is that neither of the men above were suffering monetary problems. First gentlemen – exact opposite, actually.

I believe it was just too tempting and they were crimes of opportunity.

]]> By: Chris http://www.smbtrendwire.com/2008/02/13/confessions-of-an-embezzler-is-your-business-at-risk/comment-page-1/#comment-80319 Chris Thu, 14 Feb 2008 17:17:14 +0000 http://www.smbtrendwire.com/2008/02/13/confessions-of-an-embezzler-is-your-business-at-risk/#comment-80319 I was employed by a privately owned, family operated, small business years ago. The controller was a childhood friend of the owner. After approximately 10 years of employment, it was discovered that he was embezzling $700 a week from petty cash. Charges were not pressed, however, I believe the company recuped money from his retirement plan upon his termination. We arrived for work one morning to find two attorneys and the owner waiting in the controller's office for him. How was this discovered? Not sure, but had just returned from a skiing trip in Canada. But interestingly enough, Barry mentioned a vacation as a typical reason many get caught. Could've been the case in that situation as well. Additionally, I have known another to have been caught using a company credit card for personal items. Same scenario. Worked for a family run business and showed up for work one day and two attorney's were waiting for him. They, too, recuped money from his retirement plan but did not press charges. Amounted to some $40K. Unfortunately, this happens everyday. I was employed by a privately owned, family operated, small business years ago. The controller was a childhood friend of the owner.

After approximately 10 years of employment, it was discovered that he was embezzling $700 a week from petty cash. Charges were not pressed, however, I believe the company recuped money from his retirement plan upon his termination. We arrived for work one morning to find two attorneys and the owner waiting in the controller’s office for him.

How was this discovered? Not sure, but had just returned from a skiing trip in Canada. But interestingly enough, Barry mentioned a vacation as a typical reason many get caught. Could’ve been the case in that situation as well.

Additionally, I have known another to have been caught using a company credit card for personal items. Same scenario. Worked for a family run business and showed up for work one day and two attorney’s were waiting for him. They, too, recuped money from his retirement plan but did not press charges. Amounted to some $40K.

Unfortunately, this happens everyday.

]]> By: Martin Lindeskog http://www.smbtrendwire.com/2008/02/13/confessions-of-an-embezzler-is-your-business-at-risk/comment-page-1/#comment-80313 Martin Lindeskog Thu, 14 Feb 2008 15:24:47 +0000 http://www.smbtrendwire.com/2008/02/13/confessions-of-an-embezzler-is-your-business-at-risk/#comment-80313 It has happened to me and my company. I will be more careful in the future. On the other hand, I have learned a lesson and I see a potential business opportunity. How to avoid future embezzler... It has happened to me and my company. I will be more careful in the future. On the other hand, I have learned a lesson and I see a potential business opportunity. How to avoid future embezzler…

]]> By: Amanda http://www.smbtrendwire.com/2008/02/13/confessions-of-an-embezzler-is-your-business-at-risk/comment-page-1/#comment-80312 Amanda Thu, 14 Feb 2008 15:22:14 +0000 http://www.smbtrendwire.com/2008/02/13/confessions-of-an-embezzler-is-your-business-at-risk/#comment-80312 Barry's reasons for embezzling money are probably very common for embezzlers. Stress over money issues is tough. This is a very scary & real problem for small business owners. He gave some really good insight on how to try to prevent embezzlment and what to look out for. Barry’s reasons for embezzling money are probably very common for embezzlers. Stress over money issues is tough. This is a very scary & real problem for small business owners. He gave some really good insight on how to try to prevent embezzlment and what to look out for.

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