Stories about embezzlement cases hit the newspapers with striking regularity every year. The psychological reasons that lead to such cases involve many complex factors.
A look at a couple of recent cases shows how this crime continues to impact the lives of many people from varied walks of life.
Misappropriation of insurance premiums
The Insurance Journal reported that authorities charged two men in Los Angeles County with taking $687,000 for their personal use. The money came from two towing businesses for insurance premiums. The men, both in their 60s, worked as licensed insurance agents. After receiving the payments, the men did not forward them to the insurance company for whom they worked.
The California Department of Insurance received a complaint from one of the towing companies that alleged misappropriation of the funds. The agents, a court case claims, kept the money for themselves. This left the towing companies vulnerable to catastrophic loss because their premiums remained unpaid.
Embezzlement of city funds
The AP News reported on the case of a Mississippi man who recently pleaded guilty to embezzlement by a public official. A circuit court judge ordered the man, the mayor of a small town, removed from his position. The case involved the man taking money for travel expenses for city business, even though he did not travel to the destinations.
The court ordered the man, who also held a position as a pastor, to pay court costs and fees as well as over $8,000 in restitution. The attorney for the man described his client as a dedicated father and husband and an asset to the community.