Former Finance Director of Local Tourism Agency Allegedly Embezzled $3.8M

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Former longtime finance director for Northern Kentucky Convention and Visitors Bureau was arrested on charges alleging criminal activity that led to the embezzlement of over $3.8 million.

Between May 2017 and September 2018, the 58 year old was allegedly sending on-line checks to several people she claimed were vendors of the local tourism agency. Before the former director would present the monthly bank statements to the board, she allegedly deleted the fraudulent transactions from the statement to cover up her activities.

The Northern Kentucky Convention and Visitors Commission/Bureau and its Board of Directors are working closely with law enforcement and are committed to making the necessary changes to their financial policies and oversight of the systems. Click here to read more.

Prevent This From Happening to YOU!

Vendor fraud is another risk your company faces. It involves schemes in which the fraudster manipulates a company’s accounts payable and payment systems for their own personal gain. Billing schemes often involve an employee or employees using false documentation to manipulate a company’s billing system to generate a false payment for his or her own benefit. To help prevent vendor fraud do your due diligence in the vendor setup process:

  • Compare the mailing address for vendors against the mailing addresses for employees.
  • Check vendors with only a post office box for a mailing address to verify their legitimacy.
  • Verify that each vendor has an assigned tax ID number and telephone number – and then verify the information is correct.
  • Confirm ownership of the vendor through state business registration databases.
  • Have another employee outside of the vendor setup process reviewing and approving a list of new vendors on a monthly basis.

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.

 

National Practice Leader
Michael Beranek
(501) 707-6548
[email protected]

Mid-West Regional Manager
Thomas Trieloff
(312) 705-1132
[email protected]

East Regional Manager
Matt McNamara 
(212) 497-3707
[email protected]

Amanda VanCauwenberge 
(312) 730-1101
[email protected]

Patricia Logan 
(212) 497-3708
[email protected]

Everton Barrington, FLMI
(860) 466-7376
[email protected]

Cheryl Yorio 
(860) 466-7379
[email protected]

West Regional Manager
Jennifer Maggi 
(213) 417-5467
[email protected]kleycrime.com

Alexander Doerflein 
(212) 497-3724
[email protected]

Catherine Vilandre
(860) 466-7375
[email protected] 

Adam Pardi
(212) 497-3704
[email protected]

 

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