Embezzlement

News & Analysis as of

Is the Owner-Manager of your Vendor your “Employee?” - Expansion of Coverage: North Carolina Crime Coverage Part: Embezzlement Is...

On November 14, 2014, the Eastern District of North Carolina entered summary judgment in favor of an insured seeking coverage for embezzlement for actions by owners of a vendor. Colony Tire Corp. v. Fed. Ins. Co., No. 2:15 CV...more

Sixth Circuit Holds Fidelity Bond’s 24-Month Limitation Period Bars Financial Company’s Claim For Losses Caused By Employee’s...

From 1999 to 2008, a registered investment representative worked for Hantz Financial Services (“Hantz”). From 2000 to 2008, that same representative embezzled client funds. In March 2008, a client filed a FINRA arbitration...more

Your Daily Dose of Financial News

Federal regulators unveiled a proposal yesterday that would push the country’s biggest banks and other “critical financial companies” to shore up cybersecurity protocols, to prevent hacks, and to have a recovery plan at the...more

Business Protection from Payroll Provider Fraud

Many businesses rely on third parties to handle their payroll, including making withholding deposits with the IRS on behalf of the business. Way too often, the payroll provider will embezzle the funds and not pay them over to...more

Criminal Liability for Failure to Contribute to Multiemployer Benefit Fund?

The precarious financial status of some multiemployer benefit funds has led to criminal indictment against non-contributors. This troubling expansion of potential sanctions for failure to make required contributions to...more

Employee Embezzlement: 4 Tell-Tale Signs

Having started as a bookkeeper and worked his way (fifteen years later) to become controller of the Bunz in the Oven family owned business, Swendoll Hugh felt underpaid and under-appreciated by Bertha Bunz and her highly...more

Enforcement Week III: Johnson Controls FCPA Enforcement Action – Part 2

I continue my review of the Johnson Controls, Inc. (JCI) Foreign Corrupt Practices Act (FCPA) enforcement action today by focusing on the Department of Justice’s (DOJ’s) Declination to Prosecute. Yesterday, I considered the...more

Highly Compensated Employee Cannot Claim FLSA Violation Based on Employer's Wage Withholding

In order to claim most exemptions from overtime and minimum wage requirements under the Fair Labor Standards Act, employers must pay a guaranteed salary. Employers can only deduct from such salaries in very limited...more

Fourth Circuit Says Embezzlement Is Not Theft under the Immigration and Nationality Act

Is embezzlement theft? Some people think it is. Even common sense suggests it. But the U.S. Court of Appeals for the Fourth Circuit can’t live in the world of common sense. It lives in a world of statutes that have words,...more

Don’t Be A “Streisand Effect” Employer.

None of us is immune from the Streisand Effect. Not even employers. A real estate firm in Dallas sued its ex-bookkeeper, Jacqueline, for embezzling approximately $400,000 over a four-year period by writing checks to...more

Focus on China - October 2015

Welcome to the third issue of Focus on China Compliance for 2015. According to the FCPA Blog’s October 2015 Corporate Investigations List, China leads the countries reported to be involved in FCPA investigations with 29...more

Defrauded Defendant Defenseless Against Investors: Ninth Circuit Imputes Scienter of Embezzling CEO to Corporation for 10b-5...

Malfeasance by a corporate insider against his company has the potential to leave a gaping wound. Facing a securities lawsuit due to that malfeasance is like salt in that wound. Corporations targeted with such lawsuits have...more

Africa Update - October 2015 #2

Leading the News - Libya: On October 8th, The Washington Post provided an update on the Islamic State of Iraq and the Levant’s (ISIL) activities in Sirte, Libya. Since taking hold of Sirte earlier this year, ISIL...more

PRC Amends Criminal Law As It Relates to Bribery and Corruption

On August 29, 2015, the Standing Committee of the National People’s Congress enacted the Ninth Amendment to the Criminal Law of the People’s Republic of China (the “Amendment”), following two rounds of public consultation....more

Bitcoin Week in Review 09.12.15 – 09.18.15

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

Securities Litigation and Enforcement Newsletter

A CD or not a CD, That is the Question… That the Auditors Should Have Answered - A headline-grabbing SEC enforcement action last week against BDO USA and several of its national partners may lead audit firms to insist on...more

Executive Assistant Embezzles $1 Million from Hewlett Packard; as yet, SEC Doesn’t Care

Surely you remember the SEC’s case against Polycom from this spring. In it, the SEC alleged that Polycom CEO Andrew Miller had “created hundreds of false expense reports with bogus business descriptions for his personal use...more

Former In-House Attorney Cannot Duck Trade Secrets Allegations with Anti-SLAPP Motion

On July 17, 2015, a California appellate court affirmed the denial of an intellectual property attorney’s anti-SLAPP motion against his former employer. Terrence Wyles, the defendant and former in-house counsel for medical...more

TN COA: Arbitrators Decide Scope and Unconscionability

The Tennessee Court of Appeals at Jackson recently enforced a NY choice-of-law provision against an arbitration challenge, holding that courts determine contract-formation issues, while arbitrators decide the scope and...more

Confronting Caretaker Abuse & Misconduct

While most caretakers for sick and elderly people are honest, occasionally families and friends are forced to deal with a dishonest caretaker who steals a person’s money; pressures him to change a will, trust, or power of...more

Employer’s Action for Misappropriation of Trade Secrets Against Former In-House Counsel Who Engaged in Competitive Activities Not...

There are indeed limits to the reach of the anti-SLAPP statute, particularly in the trade secret context. In West Hills Research and Development, Inc. v. Terrence M. Wyles, a California appellate court ruled that engaging in...more

A Bad Deed is Not Entirely Unpunished

Richard Thomas embezzled nearly $20,000,000 from his employer. The employer then kept Thomas’s profit sharing account of about $21,000 as an offset against the embezzled amount. Of course, this violated ERISA’s...more

The Golden State Annuity Burglar: A Neasham Remix

Alan Lewis, a former California insurance agent who faced criminal charges for annuity "twisting," was released from jail after a Superior Court judge dismissed charges for embezzlement, grand theft, and burglary. The story...more

Appellate Court Notes - Week of April 21

SC18877 Concurrence - Sarrazin v. Coastal, Inc. - Foreman for a plumbing contractor sued the company claiming he was entitled to overtime for traveling to job sites all over the state as he had to do so in a company...more

A Close Look At Internal Controls

Companies with ineffective internal controls face risks of embezzlement and self-dealing by employees, bribery, export control violations and other possible legal violations. The payment of foreign bribes often occurs in...more

35 Results
|
View per page
Page: of 2
JD Supra Readers' Choice 2016 Awards

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×