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What is the alleged cost of embezzlement?


Many of our New Jersey readers know that embezzlement is a form of employee theft. This white collar crime can be difficult to track down, especially in very large businesses or corporations. And, in some cases, despite the suspicions of the employer there is no crime committed at all - sometimes the problem is simply a mathematical or accounting issue. But what about all of the cases where a crime actually did take place? What does embezzlement cost employers throughout the country?

According to the National White Collar Crime Center, the costs can be staggering. On an annual basis it has been estimated that employee theft is responsible for anywhere from $20 billion to $90 billion in losses to employers. Embezzlement is a large part of the issue.

The interesting part of addressing alleged embezzlement issues is that many employers simply deal with the problem internally, meaning that not all employers report the problem to law enforcement officials. Why would an employer take this route? Well, according to the NW3C, employers don't want to become known as "easy targets."

When a New Jersey resident is facing an embezzlement charge, the one thing that is almost universally true in these types of cases is that there will be tons of financial documents to review. As a result, a defendant in this type of scenario would probably want to make sure that their criminal defense strategy includes a thorough review for any indicators that the alleged crime was either an accounting error or that it never even happened.

Source: www.nw3c.org, "Embezzlement/Employee Theft," Accessed March 7, 2015

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