$400,000 lost in embezzlement

It is important that individuals keep their sensitive information private, especially during unfamiliar interactions. According to PostalNews.com, a retired postal worker embezzled $400,000 from someone he befriended along his mailing route who did not heed this practice.

Buffalo News reported that Peter Saraceno, a 63-year old veteran, blamed his compulsion to steal the money on exposure to Agent Orange from his tour in the military. According to the source, Saraceno used what he gained from the theft to gamble at nearby casinos. The victim, whom he befriended 20 years prior to the incident, is also a veteran, and was left without enough money to support himself.

"I had a real good friend that worked for the post office, and he took me to the cleaners, took everything I had," the victim told the source. "I can't even fend for myself."

Consumers can prevent this kind of accounts payable fraud by optimizing an AP recovery system, which will allow these issues to be mitigated by tracking changes in account status.

Despite the alleged relationship between the victim and Saraceno, a judge ruling found that the accused was still responsible for harming an elder. The source reported that Saraceno apologized to the victim and his family, and faces the minimum prison sentence and restitution. Originally, he was given a sentence of up to 15 years, reported the source. 

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