Employee Theft Strikes Close to Home

A recent article from the Plasticsnews.com website highlighted an unusual case of employee theft.

It seem the 78 year old husband of a 75 year old business owner submitted an expense report for $12,474 (hand written of course) annotated “Golf Weekend”.  The husband, executive vice president of the company, had only attached receipts totaling around $700, according to the company treasurer, who apparently isn’t related.  When asked about the discrepancy, he replied that he added wrong.  Then he claimed someone had altered the claim, but a police handwriting analysis disproved that claim.

When employee theft was suspected, the auditors went to work and uncovered “questionable claims” back to 2003 totaling almost $70,000 including a $1500 tip and $11,000 in golf clubs and related expenses.

The owner said that when she questioned him about it, he quit and they haven’t spoken since.

The employees in accounts payable of the 700-employee company said they didn’t think they had the authority to question the claims because he was the owner’s husband.

All this goes to prove a point.  There is never any employee who is above reproach in any company.  Sometimes – usually actually – employers tend to overlook certain employees as suspect because “she’s our most trusted employee.”  When you think about it who has more opportunity to commit internal theft than someone who doesn’t feel as though he will be suspected and who knows the company’s procedures and vulnerabilities backward and forward?

When in doubt, smart business owners bring in a disinterested third party such as a qualified loss prevention investigator to take an unbiased look at the operation, ask the right questions of the right people and get to the bottom of any employee theft.

Have questions about employee theft?  Click here for information or call 770-426-0547 to speak with an expert.