The State has an article about a staff member who used his university credit card to buy himself $132,000 in merchandise. This went on for three years before someone noticed! How stupid does a person have to be to think he wouldn't get caught? How stupid do university officials have to be to not recognize it for three years???
How do you steal $132,000 from Athletic Dept?
- Thread starter hahnenkampf
- Start date
It's unbelievable that the athletic department took 3 years to notice. Equally alarming that dude is getting off with a slap on the wrist.
Embezzlement is a silent crime that can go on forever. If you have an account payables clerk in a multi-million dollar organization (a university for example)making $9-12 an hour, it may never be caught because they are either not smart enough or give a rat's a$$.
HELLO, expense reports !
totally lost here with the lack of accountability. Typically any provided card has some reporting mechanism for managers to monitor, and senior leaders to go........hmmm why did this account manager spend $100K (or $100,000) more than this account manager.
Lack of leadership to blame here.
totally lost here with the lack of accountability. Typically any provided card has some reporting mechanism for managers to monitor, and senior leaders to go........hmmm why did this account manager spend $100K (or $100,000) more than this account manager.
Lack of leadership to blame here.
Not unbelievable. That $132,000 was a small fraction of the roughly $340 million that passed through the athletic department over three years. A lot of the money that gets spent in big operations gets spent on items that few notice. The crook apparently got caught, so good.
He should be convicted as a felon.....I don't like the plea bargain / reduced sentence either.
Worse than that; someone in supervision should be fired but that won't happen.
It's so nice to see how careful they are with our money that they beg so hard for.
There is a reason White Collar crime pays. No one wants how it happened to be made public. Happens in banks and other financial institutions more than you would think.
I'm assuming you mean the culprit's superior and not the culprit, correct? Lol.
Mistakenly embezzled $132,000? What the hell are you talking about?
. . . AND, per the newspaper article, full restitution to USC has been made - by his father- in-law, which will keep his thieving ass out of jail.
Most of the mistakes and coaching I’ve received and managed others to a standard of regarding expenses seldom exceeded the $5,000 or $5k Mark & most smaller (few $100, here or there). Some folks dismissed when reckless behavior demonstrated (Mike Price, my favorite Bama coach, fits the example).
Even better so no lessons are learned. Great Parenting to follow up. Now go sit in the corner and think about what you did. No wonder older folks (usually some of the people I respect the most). Call this the time out generation....
Sorry, yeah I didn't mean the person stealing made a mistake. I meant all the people going "how could this possibly go unspotted?!?!?" Not saying it shouldn't have been, but it's not inconceivable based on my experience of the working world
It happens in churches, too. Every one who handles money should have audits and multiple pairs of eyes watching. It helps people avoid temptation.
Last edited:
That's because for-profit businesses can deduct the expenses and are required to maintain the backup (receipts, etc.) in case of an audit. Since non-profits are not taxed, they aren't required to maintain similar records.
Yep. My first job out of college was at a bank. At the time, we were required to take two weeks off (all at the same time). During those two weeks, we were not allowed to enter any branch of the bank. The bank would perform an audit of your files and didn't want you to be near a bank computer in order to be able to cover yourself if you were doing something you shouldn't be.
Well, I work for the University and have a purchasing card. Of course, I am a low ranking staff and have a small limit, but the statement from the card company comes and I have to attach the original, or a copy, of the paid receipt to the statement. It is then reviewed by my supervisor and the person in the office designated the liaison, who both have to sign off on it. Perhaps their procedures are a bit different from ours LOL.
Dude, I read a lot of your post and usually enjoy reading your opinion on things, having said that, this post is the most confusing, hard to follow thing I ever read from you.
The word "convouted" springs to mind.
Has anyone really been far even as decided to use even go want to do look more like?
My sister worked at a small law firm. The employee managing the books spent $60k on herself over two years, using corporate credit card and paying bills with company checks. It’s easier than you may think. She was caught and convicted. Sad story for all involved.
In the companies I’ve worked for, people might get a chance to repent/explain small errors, especially on expense reports. Having hands on experience as the dollar value goes up folks get fired. I have been the one delivering the dismissals.
Further questions are welcome I enjoy several of your posts too.
I may have been less clear having been jaded by the amount & lack of accountability.
My favorite line from the story in the state was "Among the cheapest items Hutson ordered were Trojan condoms for $21.78".
At least he used protection while he F@#&=/ us.
At least he used protection while he F@#&=/ us.
I wish I could give this 100 thumbs up.
I don’t understand it. Every company I’ve worked for where I had a credit card I had to complete a monthly expense report listing all charges and my supervisor had to approve it. He saw every single charge I made no later than 30 days after I made the charge. Then when he approved it his own supervisor had to approve his approvals.
He should have told his daughter to divorce the loser. This was not a one-time lapse in judgment, this occurred repeatedly.
I thought his judgment was pretty good. He got a heck of a deal on that little tractor.
^^^^
This & now I manage several of those reports & folks that submit those to the folks I manage, and I still send mine to folks who approve mine who forward their’s to folks above them who approve their’s.
Virgil ?
