“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.”*
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)
Contact Berkley Crime:
National Practice Leader and East Regional Manager
Sean Missal (860) 466-7377
Patricia Logan (212) 497-3708
Matt McNamara (212) 497-3707
Mid-West Regional Manager
Michael Beranek (501) 707-6548
Kyna Love (312) 705-1132
West Regional Manager
Jennifer Maggi (925) 472-8217
Steve Nguyen (925) 472-8233
Experts focused on your protection.
Products and services are provided by one or more insurance company subsidiaries of W. R. Berkley Corporation. Not all products and services are available in every jurisdiction, and the precise coverage afforded by any insurer is subject to the actual terms and conditions of the policies as issued. Certain coverages may be provided through surplus lines insurance company subsidiaries of W. R. Berkley Corporation through licensed surplus lines brokers. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.
For additional information concerning W.R. Berkley Corporation’s insurance company subsidiaries, please visit: https://wrbc.info/Licensing/License.htm