Embezzlement

News & Analysis as of

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

Business News Digest – April 2014

In this issue: - Cybersecurity Assessments – Using the Tool Well - A SOX in the Gut: Supreme Court Vastly Expands Workplace "Whistleblower" Law - SEC to Scrutinize Never-Examined Investment...more

Preventing and Investigating Fraud, Embezzlement, and Charitable Asset Diversion: What's a Nonprofit Board to Do?

I) Increasing Scrutiny of Fraud, Embezzlement, and Charitable Asset Diversion in the Nonprofit Sector - A) The Washington Post’s Investigation, “Inside the Hidden World of Thefts, Scams and Phantom Purchases at the...more

The Fraud-Tainted Cloning Patent: Scandalous in Theory, a Storm in a Teacup in Reality

You may have heard that the United States Patent Office (USPTO) has recently issued a patent on cloning human stem cells to Korean researcher Hwang Woo-Suk. About a decade ago, Dr. Hwang claimed to have cloned the world’s...more

Safeguarding Your Nonprofit against Fraud and Embezzlement: Best Practices, Common Pitfalls, and Practical Strategies

In this presentation: - Recent Examples of Nonprofit Fraud and Embezzlement - Why Does Employee Fraud Occur? - Why Are Nonprofits Frequently the Victims of Fraud and Embezzlement? - Preventing...more

Weekly Recap Ethics News and Trends – January 20, 2014

Public servants with the utmost integrity also need to be aware of what is happening ethically around the state. In today’s climate, every public agency’s image is impacted by the missteps or misconduct of others. Below...more

How to Safeguard Your Nonprofit against Fraud and Embezzlement: Best Practices, Common Pitfalls, and Practical Strategies

In this presentation: - Recent Examples of Nonprofit Fraud and Embezzlement - Why Does Employee Fraud Occur? - Why Are Nonprofits Frequently the Victims of Fraud and Embezzlement? - Effective...more

Behind Royal Allegations: Leveraging the Fraud Triangle to Positively Impact Your Anti-Corruption Training

It seems that the Spanish royal family can’t do anything right these days. Recall that the initial tarnish on the family came from legal, albeit unseemly occurrences (i.e. rumors of the King’s extra-marital affairs, the...more

Some Thoughts On Leadership

Ed. Note - I read the below post by Gini Dietrich, founder and CEO of Arment Dietrich . It is one of the most powerful posts I have ever read on what it means to be a leader....more

Business News Digest – December 2013

In this issue: - NIST Holds Fifth Workshop on Cybersecurity Framework; Incentives Still Lacking - Advertising Law News & Analysis - November 1, 2013 Edition - November 7, 2013 Edition - November 14,...more

Maryland Lawyer Pleads Guilty to Under-reporting Income Diverted from Law Practice

Tax Analysts Tax Notes reports that Potomac, Maryland, attorney George Nelson Smith pleaded guilty on November 1, 2013 to filing a false tax return and failing to file a tax return. According to his plea agreement, Smith is...more

City Not Required to Provide a Defense to Former Administrative Officer Accused of Looting City’s Coffers

The City of Bell (“City”) sued Robert Rizzo (“Rizzo”), its former chief administrative officer, for restitution after he allegedly looted the City’s coffers. Rizzo, who also faced criminal charges, asserted that the City was...more

You Cannot Take The Embezzler’s 401(k) Plan Balance

Many employers know that with few exceptions a participant’s benefit in a tax qualified retirement plan is protected from the participant’s creditors. One exception is for court orders, known as qualified domestic relations...more

Alberta Court Of Appeal Reverses The Burden Of Proof For Employee Theft

The Alberta Court of Appeal recently considered and clarified the nature of the relationship between employers and the employees they entrust with handling funds. As a result of the decision in 581257 Alberta Ltd. v Aujla,...more

Georgia Court Holds No Coverage For Embezzlement Claim

In its recent decision in National Reimbursement Group Inc. v. Gemini Ins. Co., 2013 U.S. Dist. LEXIS 118435 (M.D. Ga. Aug. 21, 2013), the United States District Court for the Middle District of Georgia had occasion to...more

Look(s) Bad for Former Directors

In its decision in Cytrynbaum v. Look Communications Inc. released July 4, 2013, the Ontario Court of Appeal affirmed a lower court ruling that "advancement" by the corporation to Look's former directors, for advance funding...more

U.S. Supreme Court Resolves Circuit Split in Bullock v. BankChampaign, N.A.

One of the primary purposes of bankruptcy is to provide for the discharge of certain debts in order to enable a debtor to obtain a "fresh start" post-bankruptcy. Notwithstanding this specific purpose, section 523 of Title 11...more

FinCEN: Accountant and Elder Abuse

We have been keeping track of FinCEN's SAR Activity Review – Trends, Tips & Issues virtually from its inception. In its just issued May 2013 report, FinCEN provides new information regarding two areas of importance: 1)...more

Detecting and Preventing Fraud and Embezzlement

In this presentation: - Recent Examples of Nonprofit Embezzlement - Why Does Employee Fraud Occur? - Why Are Nonprofits Frequently the Victims of Embezzlement? - External Audits - Fraud Risk...more

You Have Discovered A Crime; Now What?

Originally published in Bank News, February 2013. Mary, your trusted employee, has embezzled money from your bank. Or, Bryan, a long-time customer, has used a deposit account at your bank to defraud his employer (and...more

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