This could be your story appearing on page 1 of your local newspaper’s business section. You think NOT? Are you willing to “bet the farm” that your bookkeeper who has been with you from the beginning and you think of as a sister/daughter won’t justify a temporary/small loan to help out her brother? If that’s the case – then, please excuse my being BLUNT, but your family and employees will pay for your deliberate failure.
The First Interview: The Fox in Sheep’s Clothing
Most bookkeepers that embezzle are honest people that make a stupid long term decision when faced with a short term financial squeeze. If and when they are caught, they are usually allowed to make restitution and are never prosecuted. Many times, this individual becomes a serial embezzler. This results in the interview you are about to read.
Author: Cora Daniels.
Sandra (a false name to protect her identity) is a convicted embezzler. She is a 38-year-old mother of 2. She is standing outdoors, smoking a cigarette during this interview, because when she was in prison, she was not allowed to smoke indoors.
Author: Leigh Buchanan.
Eric van Merkensteijn lectured at the Wharton Business School to M.B.A. students for 30 years. “People are basically trustworthy, honest and loyal the associate dean would proclaim and employers should treat them that way.”
Author: John Grossmann.
Patty Preston (not her real name), a bookkeeper for Graff-Pinkert Inc. (a family run business in Oak Forest, Ill) made one mistake – she took a vacation. Lloyd and Jim Graff (brothers) are the owners of the company that buys and sells machines with metal components. It was another employee of the company that sighted several misdeeds by Patty Preston i.e. the charging of some personal items to the Graff-Pinkert account at Office Depot.
Author: Stephanie L. Gruner.
Entrepreneur David Schulhof had to learn the hard way that placing complete trust in your accounting staff can be very expensive. His accounting manager embezzled approximately $200,000 within two months. The employee illegally changed the check-signing card requiring only his signature. “‘I should have caught it’ admits Schulhof, who says he was too busy managing a fast-growing business to read bank statements.'”
Author: Carol D. Leonnig page A9,
Elizabeth Mellen, a former Department of Education contracting employee, stole more than $750,000 in equipment and overtime pay from her federal employer. The tearful 56 year old said by way of an excuse “It was just so easy. It was like someone says you can have all the ice cream you want and you take it all.”