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SydneyK 09-07-2019 12:54 PM


Originally Posted by AnchorAlumna (Post 2469253)
Looks like most of it was just p!ssed away on Starbucks and crap.

... and lottery tickets

GratefulGramma 09-08-2019 01:10 AM

It happened to me, on a much smaller scale, over a period of five or six years. But he wasn't using the bank accounts (I reconciled them straight out of the envelope), he had opened a credit card in the company name, but cards were only issued in two people's names and the issuing bank refused to talk to me even though I was the owner of the company. We didn't choose to prosecute, we just treated the funds as loans, forgave the loans and issued a 1099 for the total amount. Again, a much smaller amount and one that doing it out way was fine. I was surrounded by attorneys and CPA's and we all agreed.

Sororitysock 09-08-2019 02:37 AM


Originally Posted by SydneyK (Post 2469259)
... and lottery tickets

I feel like a gambling addiction was possibly the primary reason she started and one of the reasons for continuing was a belief that she would eventually win big and pay it off without anyone finding out. Something similar happened at a company I worked for right after college. The company, lets call it Williams Widget Works, often received payments made out to WWW instead of the full company name. One of the accounting employees created his own company called WWW, and used it to open a new bank account for his business. Then he would help himself to some of those payment checks that were made out to WWW and deposit them to his own business account. He was eventually caught and blamed his gambling addiction, and because he attended church with the founders, they fired him but didn't prosecute him. We learned a few years later he'd stolen from another employer, and that one wasn't anywhere near as forgiving and neither was the jury.

Sciencewoman 09-08-2019 11:51 AM


Originally Posted by Sororitysock (Post 2469271)
I feel like a gambling addiction was possibly the primary reason she started and one of the reasons for continuing was a belief that she would eventually win big and pay it off without anyone finding out.

Agreed. It seems like gambling debts aren't an uncommon situation when you read about various embezzlement cases. I'm sure there are cases where the gambling came first, which led to embezzlement to get access to more money, and cases where the embezzlement came first and gambling looked like a way to get a large amount of money fast to pay off the embezzled funds. Either way, people just get deeper and deeper into a hole and they can't stop gambling or embezzling because the two are linked.

I am profoundly shocked that there wasn't tighter scrutiny in place at UGA. I'm a department chair at a large state university, and this could just never happen. For purchasing cards, we have to reconcile monthly statements and upload receipts in a online storage system, our purchasing office conducts random purchasing card audits that are highly detailed (there is one employee for whom this is her ONLY job), budgets are closely monitored by the accounting office, etc. We don't have handwritten "blank checks" or department debit cards. I've also directed a number of large federal grants, and the university scrutiny there is also lock-tight. Our assigned accountant monitored our expenditures closely, as did I as the PI on the grants, and we were in frequent communication.

Same thing for my House Corp. Board service -- the co-treasurer and I always send each other receipts before we approve any check the other co-signer entered.

I just can't believe that this went on like this for so long. Absolutely mind-boggling and really sad. My best friend (and Sorority sister) is the President of another institution in the UGA system...I won't ask her about any confidential information, which she would not share anyway, but I'm also sure their purchasing practices oversight has been ratcheted up to much higher level.

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