THE NAKED ACCOUNTANT

AN EMBEZZLER'S CONFESSION !!!!

A courageous (apparently recovered) X-embezzler sent this story in response to my blog. It is a true story and I am reprinting it here exactly as it was emailed to me. I tried to respond using the email they left me but it bounced back.....figures...I didn't expect them to give me the correct email.  However, their email address would have been safe with me as I only wanted to thank them for enhancing my blog by providing the readers with what (allegedly) goes on in the mind of an embezzler............

I was an embezzler and got away with it for 10 years.  Only after I quit my job and we had a child was I approached about the money.  The former employers gave me an amount to pay back that they "thought" was close. I did but they really had no idea as to how much I really took.  In reality is was probably 3 times as much.  Your description of me is very accurate.  What he could have done to prevent it was ........

EMBEZZLEMENT - WHAT'S NEXT????

This embezzlement surprised even me.  In this technological age, internal controls to prevent embezzlement cannot be overemphasized.  Beware of where the door of temptation is left open for anything to happen......even with your own bank!

This embezzler created a bogus business.  The owner of record for this fake business was the embezzler's own mother and the business claimed to be a supplier of building materials. This bogus company set up a bank account at the same bank as the embezzler's employer, a homebuilder.

Can you spot the setup??

NEED + OPPORTUNITY = EMBEZZLEMENT

How do you set yourself up to be embezzled?

• Hire the wrong person  (we hire quickly and fire slowly....this will be another topic later)
• You didn't check their references (sometimes they were fired for embezzling and are counting on you not checking their references...)
• They appear efficient & dependable & in complete control
• They live beyond their means.....

True Embezzlement Story #2

A physician became our client because he had been embezzled by his internal bookkeeper.  We were going to review his books and gather evidence necessary to (hopefully) prosecute the embezzler.  The internal bookkeeper was not sending the payroll taxes to IRS that had been withheld from the employees.  This had apparently been going on for a while.  The client was distraught and felt helpless.  "How could I not have seen this coming?"  "She was always here, so reliable, never took a vacation....always ate lunch at her desk.....