What does an embezzler spend their money on? In the case of a New York man\u2019s alleged fraud, just about everything, apparently.\u00a0 A recent investigation reveals comptroller\u2019s spending spree.\u00a0Recent news articles report that Mark Cina, a comptroller at two companies in Poughkeepsie, New York, is accused of embezzling $2.5 million over six years (2009-2015). In case you are wondering if he stashed the money away somewhere for safe keeping, the answer would seem to be no, according to the feds.<\/p>\n
Instead, he spent it gambling, paying his rent, dining out and plenty of other expenses. In fact, the Poughkeepsie Journal provides an extended list of alleged expenses in an article published Saturday,\u00a0\u201cFeds: Dutchess man embezzled millions, spent $457,000 at mini-mart<\/a>.\u201d\u00a0Here\u2019s the eye-opening laundry list:<\/p>\n As if that\u2019s not enough, the Journal adds: \u201cCina also allegedly spent money at pharmacies, medical and dental facilities and a rental car company.\u201d\u00a0Cina is being investigated by the U.S. Postal Inspection Service, Internal Revenue Service and Dutchess County District Attorney\u2019s Office. He could face up to 20 years in prison if convicted.<\/p>\n How can this happen? Aside from the staggering amount of the fraud, it\u2019s important to know that employee embezzlement is not rare. Anyone with opportunity and access to an organisation’s funds could potentially steal \u2013 sometimes over and over again, for years.\u00a0It\u2019s often a matter of a trusted employee having too much control over the organisation’s finances, with no checks on that control and no proper fraud prevention measures in place.<\/p>\n At\u00a0CRI Group<\/a>,\u00a0we know that fraudsters, cyber attacks, third-party risks, disrupted supply chains and other unforeseen, uncontrollable factors can pose serious harm to your business and cause major concern. Today, smart business owners and executives are asking hard questions, especially before conducting business on a global level:<\/p>\n The team at CRI Group<\/a> can help you road map these risks and have sufficient action plans in place to deal with unforeseen threats to your business. Some risk factors cannot be completely avoided. But with the proper response plans in place, we can help bolster your corporate security and resilience, ensuring that your company will overcome such challenges and protect your future success.<\/p>\n Don\u2019t let your organisation become a cash cow for someone else\u2019s gambling expenses, dinner tabs or rent payments.\u00a0CRI Group’s experts are trained to work with your organisation to find vulnerabilities to fraud, and eliminate or mitigate your risk factors.<\/p>\n Following a thorough fraud risk assessment, we tailor a fraud prevention strategy that’s the perfect fit for your organisation to detect and prevent fraud and corruption. With the proper controls in place, you can avoid unforeseen crises like the one in Poughkeepsie, New York.<\/p>\n <\/p>\n Who is CRI Group?<\/strong><\/p>\n Based in London, CRI Group works with companies across the Americas, Europe, Africa, Middle East and Asia-Pacific as a one-stop international Risk Management<\/a>, Employee Background Screening<\/a>, In 2016, CRI Group launched Anti-Bribery Anti-Corruption (ABAC\u00ae) Center of Excellence<\/a> – an independent certification body established for ISO 37001:2016 Anti-Bribery Management Systems<\/a>, ISO 37301 Compliance Management Systems<\/a> and ISO 31000:2018 Risk Management<\/a>, providing training<\/a> and certification<\/a>. ABAC\u00ae operates through its global network of certified ethics and compliance professionals, qualified auditors and other certified professionals. As a result, CRI Group’s global team of certified fraud examiners work\u00a0as a discreet white-labelled supplier to some of the world\u2019s largest organisations.\u00a0Contact\u00a0ABAC\u00ae for more<\/a> on ISO Certification and training.<\/p>","protected":false},"excerpt":{"rendered":" What does an embezzler spend their money on? In the case of a New York man\u2019s alleged fraud, just about everything, apparently.\u00a0 A recent investigation reveals comptroller\u2019s spending spree.\u00a0Recent news articles report that Mark Cina, a comptroller at two companies in Poughkeepsie, New York, is accused of embezzling $2.5 million over six years (2009-2015). In […]<\/p>","protected":false},"author":1,"featured_media":1614,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23,146],"tags":[],"class_list":["post-1124","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-insights","category-resources"],"gutentor_comment":0,"yoast_head":"\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\n\n\n\n\t\n\n
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