04Apr

Ex-Deputy Treasurer Accused of $3.7 Mil. Theft

A Daily Routine

The former Deputy Treasurer of the City of Compton in Southern California allegedly skimmed a total of over $3.7 million from city funds over a six year period. Each day, he would take anywhere from $200 to $8000 from the various fees, trash, water and parking ticket payments coming from residents and business owners. Federal prosecutors say that he correctly recorded the incoming cash but submitted smaller deposit records and bank deposit slips.

The alleged perpetrator originally used the money to help his son hold on to his house but soon started buying himself a new house, cars and even plastic surgery for his wife. Other city employees noticed the signs of a rather affluent lifestyle that didn’t seem to mesh with his rather modest salary but not until one employee noted a discrepancy, was a red flag raised.

He now faces up to 5 years in federal prison if convicted.

Read the full story here.

Common Sense Steps to Reduce Employee Theft

Divide Duties

  • Make sure at least two different people are handling cash receipts and deposits with a third person verifying both.

Random Verification and Review

  • Periodically and randomly review cash receipts and deposits to ensure that they reconcile.

If you see something, say something

  • Nobody likes to accuse a fellow employee of a crime but employees need to be encouraged to relate suspicions in an anonymous manner to supervisors and managers for further investigation. 

Before a Loss Occurs…

Make sure your clients have crime insurance. Take the steps to ensure that your clients are covered and call one of the Berkley Crime team members listed below.

Call Berkley Crime today, we’ll help you and your clients get the right coverage, quickly.

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National Practice Leader
Sean Missal
(860) 466-7377
smissal@berkleycrime.com

Mid-West Regional Mgr.
Michael Beranek
(501) 707-6548
mberanek@berkleycrime.com

East Regional Manager
Matt McNamara 
(212) 497-3707
mmcnamara@berkleycrime.com

Amanda VanCauwenberge 
(312) 730-1101
avancauwenberge@berkleycrime.com

Patricia Logan 
(212) 497-3708
plogan@berkleycrime.com

Thomas Trieloff
(312) 705-1132
ttrieloff@berkleycrime.com

Cheryl Yorio 
(860) 466-7379
cyorio@berkleycrime.com

Everton Barrington, FLMI
(860) 466-7376
ebarrington@berkleycrime.com

Alexander Doerflein 
(212) 497-3724
adoerflein@berkleycrime.com

West Regional Manager
Jennifer Maggi 
(213) 417-5467
jmaggi@berkleycrime.com

Adam Pardi 
(212) 497-3704
apardi@berkleycrime.com

 

Steve Nguyen 
(925) 472-8233
snguyen@berkleycrime.co

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