1. “How to Embezzle Money:” There are a myriad of techniques for employees to use in order to embezzle money, and business professionals, especially business owners, must be aware so businesses do not fall victim to this shameful crime. 2. “When ‘Everyone’s Grandma’ Is The Town’s Little League Thief:” Even the least suspecting people who are involved in giving back to the community, such as someone who a community refers to as “everyone’s grandma,” can be capable of embezzling funds; it is truly hard to completely trust anyone. 3. “Lessons from an $8 million fraud:” An accounting manager who had the ability to approve and write checks up to $250,000 and also had record keeping responsibilities, managed to embezzle $8 million in just 4 years; his truth about the situation provides insight and awareness on how businesses can better protect themselves from embezzlement fraud. 4. “Deceit, lies, and embezzlement:” An office manager embezzled thousands of dollars due to a lack of internal controls as a result of a high level of trust from management, and now is a speaker who shares her criminal story as a method of fraud awareness for accounting professionals.              Amy Wilson, who served time in prison due to embezzlement, now is a speaker who uses her mistake as an awareness tool for accounting professionals. Wilson explains that she was always motivated to make a name for herself in the corporate world, and considered herself an overachiever. The first time she embezzled funds was to hire a lawyer for her son, who was facing criminal punishment. Ironically, she would be the one who went to prison. After this first act of fraud, Wilson continued to embezzle, working long hours and late nights to feel better about the wrongful act. The embezzlement, she claims, was to people please and live a more generous lifestyle. Wilson explains how incredibly simple it was to steal funds: the only task she technically couldn't do was sign the checks. However, she continually forged the vice president’s signature to write checks to herself. She whole heartedly had her employer’s trust, so she used that to her advantage. The money was hidden in the costs of goods for the largest costumer of the business. Auditors suggested that management investigated the increase in cost of goods for the largest client, but management didn't heed the advice. Wilson’s credit card company fraud was her downfall. Following being caught, she struggled with handling her mistake and was in prison for years. However, she now is at peace and uses her wrong doing as a teaching point. She takes complete responsibility for her unethical acts, and now, out of prison, works to prove she is changed member of society. She currently works at a small accounting firm, proving to her family and friends that she is not the person she once was. Wilson clearly hopes her mistake can help make management aware of the betrayal that can occur and discourage others from her foolish act. Similar ...

1. 1. “How to Embezzle Money:” There are a myriad of techniques
for employees to use in order to embezzle money, and business
professionals, especially business owners, must be aware so
businesses do not fall victim to this shameful crime.
2. “When ‘Everyone’s Grandma’ Is The Town’s Little League
Thief:” Even the least suspecting people who are involved in
giving back to the community, such as someone who a
community refers to as “everyone’s grandma,” can be capable of
embezzling funds; it is truly hard to completely trust anyone.
3. “Lessons from an $8 million fraud:” An accounting manager
who had the ability to approve and write checks up to $250,000
and also had record keeping responsibilities, managed to
embezzle $8 million in just 4 years; his truth about the situation
provides insight and awareness on how businesses can better
protect themselves from embezzlement fraud.
4. “Deceit, lies, and embezzlement:” An office manager
embezzled thousands of dollars due to a lack of internal
controls as a result of a high level of trust from management,
and now is a speaker who shares her criminal story as a method
of fraud awareness for accounting professionals.
Amy Wilson, who served time in prison due to
embezzlement, now is a speaker who uses her mistake as an
awareness tool for accounting professionals. Wilson explains
that she was always motivated to make a name for herself in the
corporate world, and considered herself an overachiever. The
first time she embezzled funds was to hire a lawyer for her son,
who was facing criminal punishment. Ironically, she would be
the one who went to prison. After this first act of fraud, Wilson
continued to embezzle, working long hours and late nights to
feel better about the wrongful act. The embezzlement, she
claims, was to people please and live a more generous lifestyle.
Wilson explains how incredibly simple it was to steal funds: the

2. only task she technically couldn't do was sign the checks.
However, she continually forged the vice president’s signature
to write checks to herself. She whole heartedly had her
employer’s trust, so she used that to her advantage. The money
was hidden in the costs of goods for the largest costumer of the
business. Auditors suggested that management investigated the
increase in cost of goods for the largest client, but management
didn't heed the advice. Wilson’s credit card company fraud was
her downfall. Following being caught, she struggled with
handling her mistake and was in prison for years. However, she
now is at peace and uses her wrong doing as a teaching point.
She takes complete responsibility for her unethical acts, and
now, out of prison, works to prove she is changed member of
society. She currently works at a small accounting firm, proving
to her family and friends that she is not the person she once
was. Wilson clearly hopes her mistake can help make
management aware of the betrayal that can occur and discourage
others from her foolish act. Similar to the 3rd article, the ex-
convict's truthful depiction of funds embezzlement provides a
useful message that can reduce fraud and bring awareness. As
aspiring accounting professionals, we must be aware of the fact
that embezzlement can occur, especially when there is a
significant lack of internal controls.
1. “How to Embezzle Money:” For the most part, I trust this
article. It simply defines embezzlement and goes into detail on
different tactics criminals employ to embezzle funds. However,
as for the comments, I do not trust the advice provided. Yes, it
is interesting to read and provides scenarios (if, in fact, they are
real) that business professionals must be aware of. However,
the suggestions on course of actions to take I do not completely
trust as for they may be coming from sources that are not
credible, considering it is merely comments on the article.
2. “When ‘Everyone’s Grandma’ Is The Town’s Little League
Thief:” I trust this article because it is from a credible

3. source: The New York Times. This article provides an objective
example of funds embezzlement from an unsuspecting source.
Through her position as Little League treasurer in her
community, funds were pocketed, which reveals that it is very
challenging to completely trust anybody, showing the article’s
skepticism. There is little suspicion that this article does not
provide accurate information.
3. “Lessons from an $8 million fraud:” I trust this article,
considering it comes from a credible source: The Journal of
Accountancy. It provides deep insight from the eyes of the
embezzler, and pin points control weaknesses that the business
possessed that made this type of crime very easy to commit and
even more challenging to detect. The information seemed
accurate and reliable.
4. “Deceit, lies, and embezzlement:” For the most part, I believe
this article’s source, which is the website for the Minnesota
Society for Certified Public Accountants. The author, who is an
accountant, tells an honest depiction of how she accomplished
her embezzling crime, and uses her wrong doing as an
opportunity for accounting professionals to further educate
themselves about this type of crime. However, I do question if
the author, who managed to get a new accounting job after
going to prison, has completely changed. It is evident that a
theme in this article is to not trust anyone, and never use trust
as a type of “control.” Therefore, I find it hard to completely
trust that she has completely changed her moral compass.
5.
Discussion Questions:
1. Is something as simple as using a business’s paper clip for
personal use something that can put someone’s job at risk
because technically it is embezzling?
2. With business becoming more and more global, has
embezzling become easier with vendors and customers from all
over the world?
3. If an employee finds a weakness in a business’s controls, is it
their duty to report it to management or should let it be,

4. considering management has the responsibility to put effective
controls in place as well as hire employees with an assumption
that they are honest and trustworthy people?
EX.2
There are many different methods people can embezzle money.
Therefore, companies should have controls and policies in place
in order to try to prevent it from happening.
· Embezzlers are everywhere, and you may not even be aware of
their presence. With all the many different ways to embezzle, a
business has to take precautions against it. Like the article
says, “Get vigilant or get victimized.”
· Even the most trusted individuals can get caught up in
embezzlement. This article shows the importance of having
controls in place, even in a small business such as the little
league.
· Internal controls play a big part of detecting fraud in a giant
corporation. This is not this sole solution to preventing fraud.

5. It should be combined with other methods, such as fraud
awareness or forensic analytics, in order to be more effective in
detecting fraud. A fraud of this size could have been prevented
with a combination of methods.
· Small businesses tend to be more susceptible to embezzlement
since they don’t have the capital to separate duties.
The article I chose discussed how an attorney embezzled money
from her clients. Julie Kronhaus “provided legal services, did
the accounting, set up trust funds and managed them for several
clients.” This lack of separation of duties created an
environment where it became easy for her to embezzle from her
clients. She was accused of 11 counts of wire fraud and 7
counts of bank fraud. As a result, she was disbarred from the
Florida Bar in 2014, and stripped from her CPA license in 2015.
Source Opinions
1. The article “How to Embezzle” was full of information. It is
interesting how many types of fraud are known, and yet people
still find new ways to embezzle money from companies. I
thought this was a trust worthy source that contained
trustworthy information.
2. The article “When ‘Everyone’s Grandma’ Is the Town’s
Little League Thief” was published by The New York Times.
This article was describing a true story that happened in
Clinton, Michigan. Nothing led me to believe this wasn’t a
trust worthy source.
4. The article “Lessons from an $8 million fraud” was published
by the Journal of Accountancy. The article also described a
true story of embezzling money, but this time it was from a big
corporation. It had quotes directly from Mueller, which I
thought added to the validity of the article. Therefore, it leads
me to trust the information in the article and the source.
5.
4. The article “Disbarred Longwood attorney arrested on

6. federal fraud charges” was published by the Orlando Sentinel.
This was a local newspaper that was covering a local story.
Nothing leads me to distrust the information in the article or the
source.
Questions
1. Is embezzlement prevalent in other cultures? If not, what
could be the reasons for that?
2. Is there a difference between taking money and office
supplies? Should someone get punished for taking some office
supplies for personal use?
EX.3
Embezzling takes on many different strategies, scenarios, and
variations but one thing is for sure, embezzling is prevalent in
all facets of society: always has been and always will be.
1. Learning about the many ways to embezzle money may
help deter the act but there is no sure way of eliminating.
2. From your billion-dollar corporation, to your local little
league program, any organization is vulnerable to being a
victim of embezzling.
3. Due to a lack of controls in several aspects within ING
and with improper segregation of duties, over $8 million was
able to be embezzled by one individual.
4. Many statistics show that the act of embezzling money is
wide spread and prevalent.
Although the article is outdated by a few years, the general idea
I wanted to get across was that embezzling is seen all
throughout various communities and organizations and that the
trend seems to be on the up rise. The article discusses two

7. statistical reports: The 2012 Association of Certified Fraud
Examiners Study and the 2011 Marquet Report. The CFE report
was based on data from a study conducted between 2010 and
2011 and the Marquet report aggregated data from 1,583 major
embezzlements. The data between the two showed that the
average loss from embezzling was $140,000 and that 20% of the
losses were of at least $1 million. The size of the loss was
often related to the position that the embezzler
held. Employees, on average, caused $60,000 losses while
executives caused on average of $573,000 and approximately
84% of the participants had never been charged with a
crime. Men are less likely to embezzle compared to women, but
men typically embezzle more than women. Gambling was also
cited as a common motivating factor. The conclusion of the two
reports was that implementation of an anti-fraud training
program would result in less embezzling acts and greater time
between the acts. Appropriate controls, oversight, and proper
segregation may also assist in preventing fraud. In both the
reports, the common thread is something all accountants should
have learned in their first class: when money is flowing, duties
should be segregated.
1. The first article is a short topic followed by reader’s
opinions. Although the opinions may be helpful and show real
life scenarios, any individual is able to post whatever they wish
on such media.
2. The NYTimes article is simple and to the point. It is a
credible source and a believable non-fiction story.
3. The ING article provides many facts and much
insight. The story portrayed may be greatly relied upon.
4. My article does not provide much substance for
argument. Although it is short, there are many referenced facts
and much information.
Questions
1. As long are there as crooked individuals, will the art of
embezzling ever disappear?

8. 2. My article mentioned the habit of gambling as a clear
driver behind the act of embezzling. How may the strong
correlation be seen?
EX.4
Due to white collar crimes such as embezzlement, there has
been an increasing amount of companies and communities
around the world that have been financially and emotionally
affected due to "trusted" employees committing these crimes.
1. ("How to Embezzle Money"): There are many different ways
that an employee of a company can embezzle money and there
are many ways to hide it from the company for a prolonged
period of time until they are finally caught.
2. ("When 'Everyone's Grandma' Is the Town's Little League
Thief"): A community in the heart of Michigan was absolutely
torn apart after the treasurer of the community's Little League
baseball team was found of stealing an astounding $300,000.
The community was in absolute rage to learn that a person that
they all had known was stealing money that they pay to allow
their children to participate on the baseball team.
3. ("Lessons From an $8 Million Fraud"): Mr. Mueller was able
to embezzle over $8 million from his employer due to his
employer giving him power in order to request and approve
factious checks that he would take for his own gain. This type
of fraud destroyed Mr. Mueller's employment at ING and his
marriage due to his interests of paying off his own personal
debts at first.
4. ("Lotte Chairman, Family Members Charged with
Embezzlement, Tax Evasion"): One of South Korea's largest
conglomerates was charged with embezzlement, tax
evasion, and illegal business deals; this situation has put an
increasing amount of concern for all employees in the company.

9. The Lotte Group, which was founded by Shin Kyuk-ho in 1948,
is one of the largest conglomerates in South Korea with annual
revenues of $74 billion. However, Kyuk-ho, several of his
family members, and employees of Lotte were charged with
many white collar crimes such as embezzlement on October 19,
2016. According to the Seoul Central Prosecutors Office, over
$330 million were made through illegal business dealings and
embezzlement. Even though many of the Lotte officials were
charged with these crimes, many of the executives such
as Kyuk-ho, were not detained due to the court rejecting the
prosecutors ask for arrest warrants.
In the recent years, South Korean courts have been cracking
down on embezzlement and other white collar crimes that take
place by jailing more executives instead of handing down fines
or suspensions. If found guilty, the sons of Kyuk-ho, both of
which are executive employees at Lotte, would serve at a
minimum of one year in prison. It will be hard to predict if the
Lotte Group can survive from these charges due to most of the
executives at Lotte contributing to these crimes.
Credibility:
1. ("How to Embezzle Money"): This article listed many
different ways employees can embezzle money from employers
as well as displaying a section of blog postings from people that
may not have a business background. Due to this, I would view
this article to not be very credible at all.
2. ("When 'Everyone's Grandma' Is the Town's Little League
Thief"): I thought this article was very informative on
how embezzlement cases can absolutely destroy trust within a
community. I trust this article due to it being published by the
New York Times.
3. ("Lessons From an $8 Million Fraud"): This article was
published by the Journal of Accountancy which is a very
recognizable journal in the accounting profession. In my
opinion, this article is very credible.
4. ("Lotte Chairman, Family Members Charged with
Embezzlement, Tax Evasion"): The Wall Street Journal

10. published this article and I find WSJ to be a very credible media
source. Due to this, I find this article to be fairly credible.
Questions:
· Do you think it is ethical for a company to give certain
employees the power to all of the accounting and financing
objectives which could allow the company to be susceptible to
white collar crimes?
· Should international countries investigate and prosecute
employees that commit embezzlement crimes as harshly as the
United States does?