I would like to know how this is even possible. Did no one else ever check these books to make sure things were adding up?

White collar crime needs harsher penalties than drugs IMO. Part of the problems today are from constant white collar theft.




Sat Mar 7, 3:48 pm ET

VISTA, Calif. – A former bookkeeper embezzled $9.9 million, forcing her company to make layoffs as she bought 400 pairs of shoes that she kept in a room-sized closet decorated with a crystal chandelier and a plasma television, authorities claim.
Annette Yeomans, 51, surrendered at the Vista jail on Friday and was booked for investigation of grand theft and embezzlement. She was being held Saturday at the San Diego County jail in lieu of $10 million bail.
It was not immediately clear whether she had an attorney.
Authorities allege that Yeomans embezzled the money from 2001 to 2007 while she was chief financial officer for Quality Woodworks, Inc., a cabinetry business in San Marcos.
She spent at least $240,000 on 400 pairs of shoes, $300,000 on designer clothing and 160 purses valued at $2,000 each, investigators allege. She also remodeled a bedroom into a closet with the chandelier and a 32-inch TV, they said.
"On a weekly basis Yeomans would spend $25,000 on her credit card and then pay off the balance the following Monday with company funds," said Sgt. Mark Varnau of the sheriff's Financial Crimes Unit.
The losses went unnoticed and the company never hired an outside auditor to check the books because she had a trusted position, Varnau said. Meanwhile, he said, the company was forced to lay off workers and restructure operations because of the losses.
An investigation began after American Express notified the company in February 2008 that one of its checks had been used to make a payment on Yeomans' account, Varnau said.
Yeomans was fired last year and agreed to turn over her assets to the company, which has recovered about $2 million from the sale of her home, some cars and other property, Varnau said.
Her husband was a cabinet installer at Quality Woodworks but was not suspected of any crime, Varnau said

wow lol wtf no surprise i guess

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i once knew a chick that could puff a joint or cig with her cooch and even suck up water when she was in the bath.
lol she was such a slut

There are two cases here locale,of the same thing.One case was two guys who worked for the county,the one was in charge of bidding on and paying for county work.He set up a fake company and started paying it for work it did'nt do.They started a side company with all of the equipment they bought from the county money.OPH

If you rob a bank with your finger you get 20 yrs in prison.
If you work for a bank and embezzled 10x times the amount $ you'll do a fraction of the time.

Give me the chance to embezzle 100s of millions.
Foresight, hindsight, now.... I'm telling you it's worth the probability of being caught.

here I thought segregation ended.
One set of laws for some and another set for others.

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"Years ago, my mother used to say to me, In this world, Elwood, you must be oh, so smart or oh, so pleasant.' Well, for years I was smart. I recommend pleasant. And you can quote me." Elwood P Dowd.

Seems like, the bigger the crime, the less the punishment. Take Bush for example: He is responsible for around a million deaths, pure ass murder, but since he used his military and some bullshit excuses for it, he gets a walk. If you or I murder just one person, we get life, or death, depending on how the crime went down. All men are created equal, Bullshit.

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Life is good, the water is sweet. The ground keeps moving beneath my feet.

You know what, Med? You are suffering from Bush Derangement Syndrome. This is a thread about a women who stole money from the company she worked for ... and you interject Bush? Have you considered therapy?

Vi

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Liberals are people that will believe anything twice.

I spent many years in a management position with a company that had employees that handled a lot of cash. Part of my job was to control theft. We had a saying ... "Your subordinates will do what you expect as long as they know that you inspect."

Any firm that has an owner that doesn't inspect, especially where money or safety is concerned, can look into the mirror and see a very stupid person looking back at him.

Vi

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Liberals are people that will believe anything twice.

Lots of interesting scams that Accountants can run.

Receipts
False Returns
Fake Suppliers
Fake Distributors
Unreported Returns from Short Term Investments

So on and so forth...

The fact that the owners didn't catch it until it reached $10M is probably more embarassing to the owner than to the accountant.

Though the fact that the accountant got caught only proves that she was a dumb ass. If you're going to steal massive amounts of money, wait until the Statute of Limitations Runs out...

And then figure out how you're going to wash it...



And yeah, White Collar Crime needs harsher penalties.

10M, That's more than she'd be able to pay off in the remainder of her life at minimum wage...

I think Death would be just about fair.

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Libertas inaestimabilis res est - Liberty is a thing beyond all price. | Sic Semper Tyrannis

The bitch will get a slap on the hand and that will be it. She should really have to sell everything she owns to repay the money she stole, and I can't feel sorry for her husband either, he should have asked where all the money was coming from.

A crystal chandelier and a plazma TV in a closet room?

In the old days, the owner would have called his Uncle Guido ... and the problem would be solved.

Vi

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Liberals are people that will believe anything twice.