Forensic Accounting Services, LLC
Piecing Together Financial Puzzles®
Larceny is a legal term for theft or stealing, the taking of another’s property for personal gain with no intent to return the property (permanently deprive rightful owner of their property). Embezzlement is a form of larceny, with some unique characteristics. Embezzlement involves an individual using (and exploiting) a position of trust and opportunity, committing theft acts over time, with …
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:
$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 …
Day after day I receive Google notifications containing news articles relating to embezzlement. On any given day, somewhere between twelve and twenty different notifications are delivered to my in-box, some with only one news article or post, while others contain several different cases. It amazes me just how much theft is occurring, and when you take into consideration only one …