Misappropriation discovered by controller after AP audit

An accounts payable audit uncovered the embezzlement of more than $350,000 by a former employee who worked for a construction firm in San Mateo, California.

According to the Daily Journal, Lili Clay, who was the controller for Lencioni Construction Company, has pled not guilty to charges of felony embezzlement and grand theft with the allegation of excessive taking. Clay worked for the business from January 2011 to August 2012 and is accused of embezzling more than $350,000 in total.

Clay wrote unauthorized checks to herself from Lencioni's accounts and entered them into the system as reimbursements, although the owners knew nothing about the illegal activity, reports the San Mateo County Times. After discrepancies were finally discovered, an accounts payable audit was conducted to calculate the full amount that was stolen. Clay is currently awaiting trial.

The Journal states that when Clay was confronted by Lencioni executives in August, she admitted that she had taken the money and immediately fled the office, ran to her car and drove away. Police arrested her the next day.

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