Forensic Accounting Services, LLC
Piecing Together Financial Puzzles®
Just read the following headlines for a mere sampling of the hundreds of articles appearing online in only the past two weeks: Ex-ICE Intelligence Chief Pleads Guilty to Embezzlement Dixon, Illinois Comptroller Allegedly Embezzled $30 Million To Fund Horse Breeding Business State of Okla. charges former, current City of Cleveland employees with embezzlement Jail for woman accused of embezzling from …
A case of reverse Robin Hood – steal from the poor to become rich. “Kentucky woman pleads guilty to embezzling from Little Sisters of the Poor, Facing Prison Time.”“A former bookkeeper for the Little Sisters of the Poor pleaded guilty Monday to embezzling more than $300,000 from the charity and using the money to buy herself a new car, among …
Stories seem to be appearing more frequently today than ever in the past, perhaps a direct result of the current economic climate, revealing the toll that stress and financial hardship can take on someone’s life.
In one story that appeared recently, a woman facing her daily challenges of several issues, one of which being recently charged with embezzling funds, ended her own life (at age 45), leaving behind her mother and her daughter:
Visiting Arizona recently, I toured a cryogenics facility, where individuals subscribe to have their bodies maintained in a frozen state upon their death. Over one hundred clients were currently maintained, with another one thousand clients on the list when their day comes.
I learned planning to have your body frozen (suspended) is quite involved, much like any estate planning. Individuals seeking this potentially life-extending option must not only complete forms, they must also have the means (funds) to pay for the service. Family is often well aware of their loved ones’ desire to be maintained post death.
Shopping at a membership wholesale club this weekend, I learned I no longer needed to present my membership card to check out. I simply scanned my card’s bar code using my smart phone, and when I checked out, I simply showed the bar code on my phone to the cashier, who scanned my smart phone screen. I thought back to how I gained access to the store (membership required), and all I did (and ever do) was hold up my card as I whisked past the person at the door (most often not paying close attention to passing patrons anyway) and I was off shopping.
I asked the cashier how she knew it was me. She had no response. I asked her what would prevent me from sharing my card to gain access, and my bar code with all my friends and family, by simply placing my bar code on all of their phones as well. She had no answer. I asked her why any of my friends or family should spend the $35 per person obtaining their own membership card, when they could flash my card to access the store, and use my bar code scanned into their phones to check out. Once again, no answer, just a blank stare at me (as if I were speaking a foreign language).