Ranchers Have a Beef With $2.6 Mil. Embezzlement

« Back to Blog

The Oklahoma Beef Council has sued its former accounting and compliance manager to recover $2.6 million it says was embezzled. While no charges have been filed yet, a criminal investigation into the alleged embezzlement is on-going.

Starting in 2009, it is alleged that the former employee forged checks escalating in value until 2016 when over $550K was reportedly stolen. The loss was discovered after an audit. In the years immediately before the discovery, the stolen funds represented 9% or more of total revenues.

Click here for the full story.

Take Steps to Guard Against Crime

The following steps should be taken in any type of organization to help minimize and prevent fraud:

  • Annual audits are crucial. Catch the anomalies before they become financial catastrophes
  • Divide accounting duties so that the same person who is paying invoices is not writing checks or reconciling them
  • More frequent and thorough review of bank accounts and bank account reconciliations by non-involved parties
  • Leadership and non-accounting management need to review financials carefully and demand spot checks and periodic audits
  • Clear and concise accounting processes and procedures should be developed and reviewed by third party consultants/accountants and then scrupulously implemented

Before a Loss Occurs…

Make sure your clients have crime insurance. Trying to recover stolen funds from a perpetrator offers no guarantee of success. 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.


National Practice Leader
Sean Missal
(860) 466-7377
[email protected]

Mid-West Regional Mgr.
Michael Beranek
(501) 707-6548
[email protected]

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

Amanda VanCauwenberge 
(312) 730-1101

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

Thomas Trieloff
(312) 705-1132
[email protected]

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

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

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

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

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


Steve Nguyen 
(925) 472-8233
[email protected]

Experts focused on your protection.
We deliver.

P: 844.44.CRIME
[email protected]

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


“News You Can Use” E-Blast

Sign up for the latest news from Berkley Crime.

Let us know how
we can deliver for you!