Theft uncovered after accounts payable audit of real estate company

Summit Properties, a real estate company in Holland, Michigan, discovered that no less than $150,000 had been stolen from its accounts by a former employee.

According to the Holland Sentinel, Dana Sullivan has been charged with two counts of embezzlement and is currently awaiting trial. The firm's owner, Tom Speet, told the news source he suspects Sullivan took more than the initial amount discovered, and he believes the actual sum might be around $500,000 and took place over a nine-year period while Sullivan was employed there. Speet stated that he had an accounts payable audit conducted after he found suspicious activity in Summit's financial records.

The Sentinel reports that Sullivan was previously charged with embezzlement in 2002. However, this charge was dropped when she took a plea deal and she paid approximately $7,000 in restitution. Speet said that he has implemented a stronger checks and balances system within his business to prevent a large theft from happening again.

Summit Properties operates in the Holland area and deals with a variety of properties, including waterfront homes, commercial and business sites and condos. 

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