About Embezzlement
When a business becomes profitable, it also becomes vulnerable to a multitude of financial risks. In many cases, the owners of a company will entrust an individual with the management and care of the company’s assets and finances. Unfortunately for business owners, these trusted employees may violate this confidence and secretly appropriate that money for themselves. Embezzlement is the legal term for when property is unlawfully converted by a person who is legally responsible for its management.
Though embezzlement is a crime and it may be appropriate to press charges upon discovery of an embezzler’s actions, it is important to note that a civil lawsuit may also be necessary to recover the monies which were taken. To discuss your legal options, contact the Austin deceptive practices lawyers of Slater, Kennon & Pugh Ltd. LLP at 512-472-2431.
How Embezzlement Occurs
One of the enabling features of embezzlement is that it usually occurs over an extended period of time, without being noticed. There are a number of methods that embezzlers might employ, including:
- Falsifying records (over which the embezzler often has control)
- Creating a false vendor account, to which the embezzler can supply checks
- Listing phantom employees on the payroll
- Dealing with cash, which is more difficult to track than checks
- Ponzi schemes
Contact Us
The Austin business lawyers at Slater, Kennon & Pugh Ltd. LLP are dedicated to helping you protect yourself against the aftereffects of embezzlement and fraud. Contact us today at 512-472-2431 to discuss your business’ legal needs.