embezzlement

Here, There, and Everywhere: Embezzlement is BIG Business, and Business is Good.

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 …

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Another Case of Irony (steal from the poor to get rich)

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 …

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Violence and Suicide: Tragic and Unintended Consequences of Financial Crimes

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:

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The Ultimate Breach of Fiduciary Duty

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.

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Embezzlement Explanation (or rationalization) of the Day…

$10.4 million embezzlement, $10,400,000, stolen over a little more than three short years, to support a “significant gambling problem?” First, how much investments could a firm manage or maintain to not miss $10.4 million dollars?  I am left wondering how this amount was not missed for over three years, and how controls that I would expect implemented by any investment …

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