Even when it comes to long-time employees, managers can never truly rule out the possibility of misconduct. According to The Associated Press, two Parks Department officials in St. Louis, Missouri, have been charged with embezzling approximately $465,000 from the organization’s accounts.
Since 2005, Thomas Stritzel and Joseph Vacca allegedly submitted false and inflated invoices to funnel money through fabricated companies. The source claimed that, per the indictment, the men spent the funds on vehicles, paying off credit card debt and other personal expenses.
KMOX-AM reported that in the wake of the incident, local government officials are from occurring going forward.
“We’re going to have a bunch of really smart people sitting around the table and understanding this and each step and each detail so we can think through if there’s anything we can do better,” St. Louis Operations Director Eddie Roth told the source.
One way organizations can prevent embezzlement is by ensuring they are using the most advanced audit solutions possible. By conducting investigations frequently on all areas susceptible to fraud, leaders may be able to deter potential criminals from engaging in financial misappropriation. Additionally, if any money is missing, it’s possible to find it before the thefts begin to add up significantly.