A San Diego woman who previously served as the former operations manager for an insurance broker pleaded guilty to wire fraud earlier this week. She was sentenced in federal court to 21 months in prison for stealing over $725K from her former company.
Sentencing documents show how the former employee’s position as operations manager gave her authority to approve expense reimbursement requests, issue reimbursement checks and pay vendors, as well as report the financial condition of the company to the owner. Her role with the company as the operations manager gave her a significant amount of freedom over the company’s finances.
In 2008, the San Diego woman went as far as writing check to relatives for “records management” services which were never provided as well as writing checks to herself for reimbursements of nonexistent expenses.
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Prevent This From Happening To YOU!
Many people still believe fraudsters are hardened criminals who jump from job to job, according to the reports from The United States Department of Justice, most individuals who commit work related fraud are first-time offenders. Very few fraudsters take a job with the intention to defraud the business. The ACFE (Association of Certified Fraud Examiners) uses the fraud triangle mode to explain the factors that can cause someone to commit fraud:
- Perceived unshareable financial need
- Perceived opportunity
- Rationalization
Fraud Prevention Resources are available through the ACFE to help with your company’s continuous fight against fraud.
Make Sure Your Clients Take a Proactive Approach To Protecting Their Business Should a Loss Occur
Make sure your clients have crime insurance. Take the steps to ensure that your clients are covered by calling one of the Berkley Crime team members listed below.
Sincerely,
Michael Beranek
Berkley Crime
Experts focused on your protection.
We deliver.
| National Practice Leader Michael Beranek (501) 707-6548 [email protected] |
Adam Pardi (212) 497-3704 [email protected] |
| East Regional Manager Matt McNamara (212) 497-3707 [email protected] |
West Regional Manager George Pierce (917) 747-1141 [email protected] |
| Patricia Logan (212) 497-3708 [email protected] |
Amanda VanCauwenberge (312) 730-1101 [email protected] |
| Cheryl Yorio (860) 466-7379 [email protected] |
Everton Barrington, FLMI (302) 281-6137 [email protected] |
| Alexander Doerflein (212) 497-3724 [email protected] |
Jenn Delatorre (972) 719-2473 [email protected] |
| Lydia Fulmer (410) 372-6355 [email protected] |
Brian Platt (720) 979-1155 [email protected] |
| Ben Zubrowski (410) 372-6322 [email protected] |
Gina Giorgi (860) 466-7202 [email protected] |