Recently in Hollywood, Florida, the manager of a condominium had to appear in a circuit court to enter a plea to charges that she embezzled a very large sum of money from a homeowners association. The condo manager pleaded not guilty to stealing from a Hollywood Beach condominium.
The alleged scheme was simple but temporarily effective. According to court records, the condo manager created a fake company with a name that was very similar to that of the insurance company that was used by the condo. She then wrote checks to the fake company, rather than to the insurance company. The condo manager is believed to have stolen $228,000.
After a grand theft warrant was issued for her arrest, the condo manager fled to Clearwater and rented a house. Her landlord became suspicious and after doing some research on the Internet discovered her identity. The landlord reported the condo manager to the authorities who swiftly took her into custody.
This act of embezzlement could have caused even more serious problems than just the absconding of funds. While the condo manager wrote checks out to her fake company, she was not paying for the insurance. With lapsed insurance, the condo would not have been covered in case of a disaster such as a fire or flood. Such an event could have resulted in a devastating economic loss.
When employees are entrusted to handle a company's funds, it is expected they will do so in a proper manner. If an employee should decide to divert money into his or her own coffers as opposed to distributing it as intended, the financial loss could threaten the company's very existence.
If you suspect that your business has been victimized by embezzlement, you may wish to consult with a Florida attorney experienced in handling intentional tort cases.
Source: Local 10 News, "Kristin Glansen pleads not guilty in embezzlement scheme after fleeing to Clearwater," Bob Norman, Aug. 28, 2015