06Apr

Payroll Tax Accountant Embezzled $1.9M; Who’s Stealing from Your Clients?

A former employee of Orange, CA-based Roth Staffing Companies embezzled almost $1.9M during her employment as a payroll tax accountant according to a report published 2/26/15 on the Staffing Industry Analyst website.

“Alma Edith Letona, working as a payroll tax accountant at Roth under the false name of Olga Figueroa, submitted false requests for tax payments and directed the payments to an account she controlled instead of to Roth’s third-party payroll tax processor, Ceridian Tax Service.

Letona was also responsible for attempting to locate former Roth employees with uncashed Roth checks and making sure they got paid. The complaint alleges she deposited about 200 of these uncashed checks into her own account after forging the intended payee’s endorsements.”

According to the company’s general counsel, “This was a very sophisticated and planned-out embezzlement, so it would have been virtually impossible for any employer to have caught it.”*

Click here for the full story.

Sometimes even the best controls and close monitoring of activities, can’t catch a thief right away. Make sure your clients have the protection they need when fraud and embezzlement losses are discovered; contact Berkley Crime today for expert assistance in finding the right coverage for your client’s needs.

(*Reprinted with permission. Copyright © 2015 Crain Communications Inc)

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