One embezzlement charge has led to another in the case of a Michigan man accused of stealing hundreds of thousands of dollars from previous employers.
James Korson resigned from his position as controller of Pyper Productions in Battle Creek in 2009 after working ten years at the company, but the Battle Creek Enquirer says Pyper only discovered Korson's illegal activities after he was charged with embezzlement by Jackson County business JANX, an industrial testing tool producer. When this was uncovered, Pyper Productions conducted an accounts payable audit the source claims showed a loss of $300,000 from 2006 to 2009, according to the source.
Jim Martens, a detective sergeant in Battle Creek, said the findings may not line up with the actual amount of money Korson embezzled over the years.
"The accountants and the lawyers think it might be over $1 million," he told the Enquirer.
The source reports Korson stole funds by writing fraudulent checks to himself ranging from $2,000 to $4,000 per week while at Pyper. An accounts payable recovery may depend on the fine issued if Korson is convicted, as the Enquirer says the rate currently stands at $50,000 or triple the suspected embezzled amount.
AP audits can help businesses investigating embezzlement cases pinpoint where financial misappropriation was made.