Employee Theft In Atlanta It Cant Happen To Me!?!

September 24, 2010 by Leave a Comment

I conducted an employee theft investigation here in the Atlanta area recently where our client was hit by a long term Assistant Manager (AM) who stole approximately $48,000 in cash. The AM did this by manipulating the clients accounting systems and POS.

Employee theft which is also referred to as internal theft or white collar crime impacted this client very hard. This person was a trusted individual that had been given quite a bit of authority. In fact the client now realizes that the AM was given too much unchecked authority.

It turns out that the AM has a gambling problem. The owners of the company suspected this. What is concerning is that this did not raise a red flag. When we guide the client through a review of the employee theft investigation once we are done and the employee is on his way to jail the response is almost always the same, “why didn’t I see this? It is so clear now”. The reasons they didn’t see it are many:

They include a desire that we all have to see the best in people.

We do not want to think that a person we hired and like could betray us.

We can get blinders on and do not pay attention because we are “busy”.

We also use personal trust instead of business trust (this person is considered a friend).

Employee theft is not an important part of the business decision-making process.

It boils down to this. If you do not have a loss prevention mindset and consider employee theft something that can’t happen to you then you will experience employee theft or internal theft first hand. Wake up and see what is going on around you. This is not personal it is a business. There are a segment of employees (1 in 10) that WILL commit employee theft in your business.

So what are you doing about it? Do you have a business mind set in loss prevention policy and procedure? Are you making hiring decisions with loss prevention as part of the process? Do you have a loss prevention audit in place (loss prevention audits are designed to expose employee fraud , internal theft , corporate fraud and white collar crime )?

You must have check and balance in your business operations otherwise you will be seeing employee theft up front and personal. If you have blinders on or think it cant happen to me, chances are it is happening to you now.

For more information about employee fraud , internal theft , white collar crime or employee theft investigation in Atlanta contact us about employee fraud or call 1.770.426.0547

Filed Under: Uncategorized Tagged With: , , , , ,

White Collar Crime In Atlanta – Why They Steal

September 11, 2010 by Leave a Comment

During my 30 years of Loss Prevention Investigations into what some call white collar crime also known as employee theft and internal theft I have come across some pretty strange reasons given to me by the thieves I have caught here in the Atlanta Area an else where.

In a number of case the thief stated that the reason that they stole from the company was that they were not given time off for job interviews at other companies. Wow! This is weird on so many levels. First I had a serious problem connected the two. How did they get from not getting time off to stealing thousands of dollars in cash and merchandise? I guess that it’s because the company is just one of those “evil employers” that we hear about. Of course, the bad guy kind of forgot to mention that the employer was the one to hire them in the first place, train them and pay them faithfully.

Another employee theft confession that I always get a chuckle (or migraine) out of is the “I needed the money for drugs” (not the kind you get from your Pharmacy). OK, let’s look at it from their point of view:

“I have a illegal (insert drug du jour here) habit that I have to feed every day. I need money. Robbing a bank seems like a lot of effort. Plus you have all those exploding dye packs and gunfire associated with bank robbery. I know! I will just steal it from my work. Can’t get shot doing that.”

Or another top ten hit is the “I didn’t receive my raise on time” excuse. So they decide to punish their employer by committing employee theft. In the follow-up on the cases I remember with this excuse I recall that most of them were not even going to get a raise because of poor performance. Maybe if they put more effort into their job? What a concept, work hard, get paid and go home, not jail.

And yes the vast majority of these people went to jail. Maybe white collar crime doesn’t really pay.

For more information on white collar crime contact us or call 1.770.426.0547

Filed Under: Uncategorized Tagged With: , ,

Atlanta Corporate Fraud Investigators Get Office Manager To Confess To $55,000 In Employee Theft

September 3, 2010 by Leave a Comment

Atlanta based Loss Prevention Systems’  corporate fraud investigator gets confession from Office Manager stating she stole over $55,000 by issuing checks to phony vendors.

The Accounting Department of an Atlanta area company noticed an unusual increase in supply expenses from one of its branch locations. Upon reviewing the payables, we were contacted to investigate the cause of the sudden increase.

Our corporate fraud investigator found a total of 57 company checks made out to two fictitious vendors and deposited to a single account. The checks had been produced by a former Office Manager of the company.

The former manager was located and contacted, and agreed to an interview with our investigator. In the subsequent interview, the former manager admitted to the theft of over $55,000.00 over a period of five months.

She would make out the checks to her own bogus company, then change the payee in the accounting system to a legitimate vendor, making it appear that a true invoice had been paid.

The former employee signed a statement admitting guilt and agreeing to pay the money back.

With this information and the checks as evidence, he employer took a warrant for the arrest of the former manager, charging her with Grand Larceny.

Loss Prevention Systems is an Atlanta area based company offering a very unique  corporate fraud investigation service to businesses, often partnering with CPA’s CFE’s and attorneys.  Our staff are licensed, professionally trained and certified investigators and interrogators who produce written confessions and iron clad cases for criminal and civil prosecution if desired with a 100% conviction rate.

If you suspect you are a victim of corporate fraud, employee theft ( white collar crime, internal theft) or you are a professional working a corporate fraud investigation and would like help getting to the truth, contact Loss Prevention Systems, Inc. in Atlanta here.

Filed Under: Uncategorized Tagged With: , , , , ,

WHAT IS WHITE COLLAR CRIME???

August 20, 2010 by Leave a Comment

Well, you may be thinking of the new television series, White Collar Crime…but that’s not quite it! White collar crime is specifically defined as “a crime committed by a person of respectability and high social status in the course of his occupation.”  This term was first coined by Edwin Sutherland in 1939.  In recent decades it has taken on a whole new meaning including embezzlement, forgery, money laundering and, today’s favorite, identity theft.

Many company executives get caught in a white collar crime due to negligent safety or environmental issues.  In 2007, the Atlanta based company Acuity Specialty Products was fined $3.8 million dollars in violation of the Clean Water Act.  As a result of the investigation, Daniel Schaffer, Acuity’s former Director of Environmental Compliance, pleaded guilty to conspiracy to violate the Clean Water Act, in February 2006. This ladies and gentlemen is one of the largest fines ever levied against a chemical corporation and also a perfect definition of white collar crime .

According to the Federal Bureau of Investigation, these types of crimes are estimated to cost the United States more than $300 billion annually.  The penalties for white-collar offenses include fines, home detention, community confinement, paying the cost of prosecution, forfeitures, restitution, supervised release, and imprisonment. However, sanctions can be lessened if the defendant takes responsibility for the crime and assists the authorities in their investigation.

If you feel white collar crime is affecting your business or place of employment contact us or call 1.770.426.0547.

Filed Under: Uncategorized Tagged With:

How to Successfully Solve White Collar Crime

August 13, 2010 by Leave a Comment

To successfully solve  white collar crime is just like anything else.  Let’s look at it this way, to fail all you have to do is one thing wrong, to succeed you have to do everything right.

White collar crime is often referred to as  corporate fraud.  Here is an excerpt from the FBI website regarding the issue: “The majority of  corporate fraud cases pursued by the FBI involve accounting schemes designed to deceive investors, auditors, and analysts about the true financial condition of a corporation.”

This problem is getting worse in America due to the increasing pressures felt by the bad economy. Business leaders are bilking their employers out of billions of dollars every year.  This obviously makes its way into the cost of doping business and then the cost of everything.

So how do you solve the issue if you suspect you area victim?

#1 Do not act on your own. Acting too soon will most likely blow your case.

#2 You have to be patient.  You must build a case which will involve collecting evidence. This may take several weeks once you have a team in place, which leads to #3.

#3 You must get help.  To build a case that wins you will need outside help.  Attorneys, Certified Forensic Accountants and professional investigators/ interrogators.

This may all sound expensive and laborious; however, if you follow a successful system you will not only get to the truth, have everything you need to get a criminal conviction if you decide to go that route and you will quite possibly get your money back.  Not following a system will guarantee you will not get the truth or your money and maybe not even be able to prosecute.

The leadership at Loss Prevention Systems, Inc. has solved thousands of cases, prevented and recovered millions in losses and has a 100% conviction rate when taken to that level. To discover what they can do for your  white collar crime issue visit them here.

Filed Under: Uncategorized Tagged With: ,
« Previous Page