Business owners don't typically believe employee dishonesty will happen in their business. However, employee fraud is more common than you think. Did you realize $3 Billion dollars of business profits are lost annually due to employee fraud?
Here’s an example of an employee fraud case from 2008 that could have been covered had Motorola had an Employee Fidelity policy in place:
One might assume that supervisors at Motorola would notice that one employee was ordering an awful lot of inkjet cartridges and getting reimbursed for a ridiculous amount of purchases for the company. But it would be a bad assumption.
For three years beginning in December 2003, Bethann Gilroy, 33, got away with a four-pronged theft scheme that defrauded Motorola of $860,000, according to her recent plea agreement. In 2008, she was sentenced to 33 months behind bars, despite her attorney's arguments that her mail fraud guilty plea should result only in probation. Her lawyer failed to return a call seeking comment.
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