Federal Judge Sentences Labette County Bank Clerk to Probation in Embezzlement Case
A former Labette County bank clerk who pled guilty to embezzling money from various accounts while working as a Chetopa State Bank teller was recently sentenced to probation by a federal judge in Wichita overseeing the case. The defendant’s sentence includes restitution for all funds taken, three months of probation, and eight months of house arrest.
Difference Between Larceny And Embezzlement
You might think that theft is theft and that the process or method of acquisition of someone else’s property wouldn’t have much differentiation if any. However, there is a difference between Larceny and Embezzlement and the prosecution of the two separate crimes contains many variances. Both crimes are theft related and involve taking someone else’s property without permission.
The Longer Embezzlement Continues, the More Likely You Will Be Caught
A person who is given access to someone else’s property or money for the purposes of managing, monitoring, and/or using the assets for the owner’s best interests, but then intentionally misappropriates those assets for personal gain, is committing embezzlement. Embezzling generally takes place when an employee with authority steals money or assets, and it usually occurs in a corporate setting. Generally, the longer the embezzlement goes on, the stiffer the penalties are for the individual charged with the crime.
Conspiracies are Not Just Movie Plots, They are a Type of Business Fraud
Business fraud cases usually go beyond a general breach of contract situation; they involve a more intentional dishonesty on behalf of a business. Generally a business could provide intentional false statements or omission of facts which another may rely upon to make a decision to their harm. This can happen in a number of ways but will always be determined by one side intentionally being dishonest. Business fraud often happens in transactions revolving around real estate transactions, a purchase and sale of a business, and many times contract disputes.
Double Checking Your Accountant May Keep You Out Of Jail
Willie has seen some little flags here and there with the head of his company’s accounting department. From time to time he’d notice his own personal petty cash was just a few dollars short of its documented amount. Another time he noticed he had been billed, and paid for, the same transaction with a vendor twice. Additionally, he noted when a former vendor, a friend of his, called and asked about the unexpected check that ended up in their mail. The vendor reminded Willie they hadn’t done work for them in quite some time and were definitely not late on any payments.
Bribes VS. Gifts
It is important to understand the difference between a gift and a bribe. Bribery is a white collar crime and is considered a felony in most states. Many people find themselves confused about the difference in a gift verses a bribe.
Insider Trading Laws & Penalties
One of the most well-known cases of insider trading in recent history is that of Home Decorating, Cooking, and all things domestic icon Martha Stewart. Reportedly Stewart was warned ahead of the collapse of one of the companies she had invested in to sell off her shares. The broker who had warned Stewart had “inside” knowledge of the impending collapse and she took his advice selling all 3,928 shares saving herself from a $45,673 loss on her investment. Unfortunately, because of her arrest and conviction in her participation in “insider trading” her billion dollar company has suffered more than that amount in loss and reputation.
Business To Business Bribery
Business to business bribery is also known as commercial bribery. It occurs daily across the globe. It’s more pervasive and overlooked in some countries than others. It can involve anything from international corporations down to small businesses operating in the same city. It’s a form of corruption not involving government officials that can operate to give a business an unfair advantage.