Stark & Stark Shareholder Kevin M. Hart, member of the Litigation, Corporate Investigations & White Collar, Shareholder & Partner Disputes, and Insurance Coverage & Liability Groups, authored the article ‘Tis the Season for Employee Theft: Protecting Your Small Business from Within, which was published on NJ.com on November 9, 2015.
The article details the risks to small businesses that come with employee theft. Approximately $50 billion a year is lost courtesy of this theft, and it is a problem which affects all types of businesses. Theft most often occurs in the form of embezzling, which can include “false bank accounts, false bank records, false billing statements, false receivable records, and even false computer records.”
Depending on the total sum of stolen funds, the criminal case will most likely be brought to the county prosecutor’s office. Instead, Mr. Hart recommends, “A far more effective response is to retain either an attorney or accountant that specializes in this area,” to better protect yourself against this theft. “If you believe your company has been a victim of internal fraud or employee theft, you should seek legal counsel immediately.”
You can read the full article by clicking here.