Re: Embezzlement

1

Why didn't anyone mention this to me earlier?


Posted by: Moby Hick | Link to this comment | 05-26-22 5:35 AM
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2

My nieces made me pay for cookies when my sister is the leader.


Posted by: Moby Hick | Link to this comment | 05-26-22 5:43 AM
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3

Around here, there always seems to be a story about a local office manager, always a woman about sixty who was beloved by all, that stole $600,000 over twenty years and only got caught because some outside accountant noticed something and did the obvious check because he never once was in the office to see the pictures of her grandkids.


Posted by: Moby Hick | Link to this comment | 05-26-22 6:11 AM
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4

I've noticed this is something that seems to happen in concert with opioid addiction. I'd like to see the Sackler Family chip in to make these organizations whole.


Posted by: Spike | Link to this comment | 05-26-22 6:51 AM
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5

That makes 100% sense.


Posted by: heebie-geebie | Link to this comment | 05-26-22 6:53 AM
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6

Not just small local entities. I'm impressed by the sheer work ethic on that one.


Posted by: teofilo | Link to this comment | 05-26-22 9:15 AM
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7

Work ethic would be selling the equipment out of your trunk. Stocking a retail store is cheating.


Posted by: Moby Hick | Link to this comment | 05-26-22 9:20 AM
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8

Still, that's a lot of computers.


Posted by: teofilo | Link to this comment | 05-26-22 9:22 AM
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9

The human touch of in-person retail is important.


Posted by: Moby Hick | Link to this comment | 05-26-22 9:29 AM
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10

Especially if you need to have jurors on your side.


Posted by: Moby Hick | Link to this comment | 05-26-22 9:35 AM
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11

Agree, not uncommon in large orgs.
At the student newspaper when I was a board member we had a line item in the budget for G&C, graft and corruption, assuming some people would steal office supplies, film, small electronics, etc. We had an $8000 camera lens stolen once but didn't think it was an inside job.


Posted by: SP | Link to this comment | 05-26-22 9:41 AM
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12

When I was an undergraduate the Society of Physics Students did a *tremendous* business in reselling candy, soda, and hot pockets from Cosco. My sophomore and junior year my friend who was one year above me and had put herself through colllege partially by being a bookkeeper and waitress at a restaurant very diligently checked the cash box and counted everthing up every and tracked it every couple of nights. So we always had a good sense that we were in fact, getting all the money and keeping it and depositing. We basically had tons of seminars with really good foodand lots of socializing with the professors.
My senior year, a less diligent sophomore who was double majoring in business was in charge, and he just didn't do it as often. . . .and he would wait to update the bookeeping even further apart. . . so after a couple of periods of this we realized money was just hemoragghing and we even ran a loss on one Costco trip. The whole thing inculclated in me this strong belief that vigilance is a strong preventative of temptation.


Posted by: Saheli | Link to this comment | 05-26-22 10:46 AM
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13

The price of snacks is eternal vigilance.


Posted by: Moby Hick | Link to this comment | 05-26-22 10:49 AM
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14

We had a local historical society around here lose most of its money.


Posted by: Spike | Link to this comment | 05-26-22 12:19 PM
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15

We did too but that's because a board member insisted they invest most of their money with Madoff.


Posted by: Barry Freed | Link to this comment | 05-26-22 12:28 PM
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16

It worked out for Bobby Bonilla.


Posted by: Spike | Link to this comment | 05-26-22 12:35 PM
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17

On topic: $90 million embezzled or lost to bad investments over twenty years, from the AME Church ministers' Retirement Fund. What happens when a group of people personally and professionally committed to not caring about money, delegate authority to a guy who cares a whole lot about money.

https://www.ame-church.com/news/ame-church-files-lawsuit-against-former-department-of-retirement-services-executive-director-dr-harris-and-others-for-conspiracy-to-defraud-and-embezzle-clergy-retirement-funds/


Posted by: unimaginative | Link to this comment | 05-27-22 12:11 PM
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On topic: $90 million embezzled or lost to bad investments over twenty years, from the AME Church ministers' Retirement Fund. What happens when a group of people personally and professionally committed to not caring about money, delegate authority to a guy who cares a whole lot about money.

https://www.ame-church.com/news/ame-church-files-lawsuit-against-former-department-of-retirement-services-executive-director-dr-harris-and-others-for-conspiracy-to-defraud-and-embezzle-clergy-retirement-funds/


Posted by: unimaginative | Link to this comment | 05-27-22 12:11 PM
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19

3: "Deadline" is one of the best Virgil Flowers detective stories, which I have recommended here before, and gives a very convincing picture of how this could happen and how much money could be taken out of even a very small and poor district.


Posted by: Ajay | Link to this comment | 05-28-22 12:53 AM
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20

I like How-To books.


Posted by: Moby Hick | Link to this comment | 05-28-22 6:18 AM
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21

Also, thanks for the reminder. I put two of those books on hold at the library.


Posted by: Moby Hick | Link to this comment | 05-28-22 7:51 AM
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22

I am a late learner of double-entry bookkeeping, but getting very fond of it. I expect there's even more accounting I could enjoy. Always did like the principle that the bookkeeper and accountant need to take long vacations regularly during which Irregularities would Become Evident.


Posted by: clew | Link to this comment | 05-28-22 3:54 PM
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22: oh, how did you learn? I am have been thinking I'd like to, but I don't have enough books to keep to learn that way. I read the history "Double Entry" --- not nearly enough embrace of the entendres but otherwise very very good, and it made me want to learn.


Posted by: Saheli | Link to this comment | 05-29-22 6:10 AM
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24

I wanted to do persnickety budgeting with longterm goals and didn't like any of the pretty apps/programs, and the free, text-based, ugly program I chose is double-entry-minded, and doing that for my accounts and the household's for a year I've tripped over plenty of things that involved learning the next double-entry principle. Also there's lots online, once you're tracking stuff.

https://www.ledger-cli.org/

Our next domestic goal is to keep a CO2 budget, automatically reading in from the money budget where that's easy -- gas, obviously.

Also I'm in a small organic farming school and while everyone else is finding the recording onerous I keep thinking "We need more records to actually know what each crop costs to produce. DOUBLE ENTRY!" The ex-restauranteurs seem to agree with me, having seen so many bankruptcies.


Posted by: clew | Link to this comment | 05-29-22 12:37 PM
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25

gas, obviously

Secret to great films.


Posted by: Opinionated Mel Brooks | Link to this comment | 05-29-22 1:19 PM
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26

OT: Are hips supposed to click when you move your leg out laterally?


Posted by: Moby Hick | Link to this comment | 05-29-22 6:39 PM
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27

Canonically, they should snap.


Posted by: heebie | Link to this comment | 05-30-22 7:11 AM
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28

This is really a click or a pop.


Posted by: Moby Hick | Link to this comment | 05-30-22 7:20 AM
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29

No crackle? Because that would indicate that you may be a Rice Krispie elf.


Posted by: LizardBreath | Link to this comment | 05-30-22 8:35 AM
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30

I'm not that short.


Posted by: Moby Hick | Link to this comment | 05-30-22 8:44 AM
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31

And when I tried to start a bakery in a hollow tree, the health department and the fire department both stopped me.


Posted by: Moby Hick | Link to this comment | 05-30-22 10:39 AM
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32

With enough experience points you unlock special features.


Posted by: Eggplant | Link to this comment | 05-30-22 2:40 PM
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33

Amanda Seyfried has the exact same accent as Jodie Foster.


Posted by: Moby Hick | Link to this comment | 05-30-22 4:45 PM
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